BAKU, Azerbaijan, July 28. Uzbekistan's
financial services sector generated 84.2 trillion soums (about $7
billion) in January–May 2026, marking a 24.9% increase compared
with the same period last year.


The figures were released by Uzbekistan's National Statistics
Committee.


According to the committee, Tashkent city remained the country's
largest financial services hub, accounting for 48.7 trillion soums
(around $4 billion), or nearly 58% of the national total during the
five-month period.


The expansion comes as Uzbekistan's Ministry of Economy and Finance expects
the economy to grow by 8.1% in 2026, with the services sector
remaining one of the main drivers of economic activity under its
2027–2029 Fiscal Strategy.


Among the regions, Fergana ranked second with 4.2 trillion soums
(approx. $347 million), followed by the Tashkent region with 4.1
trillion soums (about $338.7 million) and Andijan with 3.8 trillion
soums (around $313.9 million).


Samarkand generated 3.2 trillion soums (approx. $264.3 million)
in financial services, while Kashkadarya recorded 2.8 trillion
soums (around $231.2 million).







Financial services totaled 2.4 trillion soums (about $198.2
million) each in the Bukhara, Khorezm, Surkhandarya, and Namangan
regions.


Meanwhile, Jizzakh generated 2.3 trillion soums (approx. $190
million), Karakalpakstan recorded 2.1 trillion soums (about $173.4
million), and Navoi reported 2 trillion soums (around $165.2
million) in financial services.


The Syrdarya region posted the lowest volume among the reported
regions, at 1.4 trillion soums (about $115.6 million).


According to Trend's analysis, Tashkent generated 48.7 trillion
soums (around $4 billion), accounting for nearly 58% of
Uzbekistan's financial services output, underscoring the capital's
dominant position as the country's banking and financial center. At
the same time, the combined output of Fergana, Andijan and Namangan
reached 10.4 trillion soums (about 4859 million), highlighting the
growing importance of the Fergana Valley as Uzbekistan's
second-largest financial services market. The 24.9% increase in
financial services significantly outpaces the government's
projected 8.1% GDP growth for 2026, suggesting that financial
intermediation is expanding faster than the broader economy. This
reflects rising demand for banking, payment and other financial
services as Uzbekistan continues implementing banking reforms and
increasing private-sector participation in the financial
system.