Current Account Balance: Uzbekistan

Analysis# Uzbekistan Current Account Balance Uzbekistan's current account balance stands at -4.6% of GDP in 2026, reflecting persistent external imbalances in the nation's trade position. The country has moved substantially from its all-time peak of 8.9% in 2008, when robust commodity exports supported a significant surplus. Since 1992, the metric has declined by 13.2 percentage points overall, though the -7.6% low reached in 2023 represents the worst performance in the measured period. The past decade reveals volatile swings between deficits and modest improvements. After hitting -6.1% in 2018, Uzbekistan briefly recovered to near-balance territory in 2021 and 2022, only to plunge to the historic low in 2023. The recent trajectory shows marginal stabilization, with the deficit narrowing from -7.6% to -2.4% by 2025 before widening slightly to -4.6% in 2026. Structural pressures from import demands and currency dynamics continue shaping Uzbekistan's external accounts.