Economic Impact of COVID-19 on Businesses in Uzbekistan

The Project at A Glance

The COVID-19 global pandemic has had significant trade-impacts for developing countries. Uzbekistan, whose economy is heavily dependent on foreign trade, was also negatively affected specifically due to the measures taken by third countries to combat the pandemic.
Under the framework of the TAF2+ funded project, International Economics assisted the Government of Uzbekistan in preparing a study on the economic impact of COVID-19 on businesses in Uzbekistan.

What We Found

We carried out a thorough analysis on the trade-related impacts of COVID-19 in Uzbekistan, including the following areas:

  • Measuring the impacts of COVID-19 on the disruption of export value-chains through closure/restriction of transport routes – both for exports of goods and for services;
  • Comparative analysis of export value-chains pre- and post-COVID-19;
  • Analysing the loss of export orders from buyers in export markets due to COVID-19.

A survey was conducted to identify the impacts of the disruption to export value chains, the loss of export orders, and the effectiveness of trade recovery policies that have been implemented by the Government of Uzbekistan.
It is worth noting that Uzbekistan, as many other countries around the world, reacted to COVID-19 by imposing strict lockdown measures which contributed to the control of the pandemic, but also had a serious economic impact.

Our Strategy and Impact

Although the pandemic hit the economy hard in the first half of 2020 and inflicted considerable hardship, the recession was moderated owing to strict and timely containment and support measures.
To enable a more sustainable economic recovery, we made:

  • Economy-wide recommendations, emphasizing the need for the government in Uzbekistan to address the structural challenges that the COVID-19 pandemic has made more acute.
  • Trade-related recommendations, regarding the measures on supply chain support that the government must address, such as regional economic integration; strengthening access to trade finance; promoting innovation in export-oriented enterprises; increasing the resilience of supply chains; addressing trade barriers; the use of the information systems; and promoting market access and making use of existing preferences.

Our Core Solutions

The COVID-19 pandemic has disrupted trade and business activities around the world. While some businesses have struggled to survive, others have succeeded and thrived. Our services optimise our range of skills to help businesses and governments in anticipating risks, building resilience, and mitigating impacts. We can help businesses in devising risk and impact mitigating measures, and craft policy options for governments for recovery against such shocks.

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