Sharp Decline in Energy Resource Production in Uzbekistan in Q1 2024
The latest data from the Statistics Agency reveals a decline in gas extraction by 5.9 percent, oil extraction by 8.4 percent, coal mining by 2 percent, and gasoline production by 6.5 percent in the first quarter of the year. However, diesel fuel production saw a 2.5 percent increase, while electricity generation rose by 0.8 percent.
During January-March 2024, gas extraction totaled 11.6 billion cubic meters, marking a decrease of 5.9 percent compared to the same period last year. The figures for gas extraction in January, February, and March were also lower than the previous year.
The decline in natural gas extraction has been a trend in recent years, with a significant decrease observed between 2019 and 2023. This reduction has been offset by importing gas from Turkmenistan and Russia.
Coal extraction also decreased by 2 percent in the first quarter, while oil extraction and gas condensate production saw contrasting trends.
In terms of electricity production, there was a slight increase of 0.8 percent compared to the same period last year. Diesel fuel production increased by 2.5 percent, while gasoline production decreased by 6.5 percent.
On a positive note, the production of passenger vehicles witnessed a significant growth of 36 percent in January-March 2024 compared to the previous year. Models such as Cobalt, Damas, Tracker, and Onix posted notable increases in production numbers.
Overall, the industrial production data for the first quarter presents a mixed picture of growth and decline across various sectors, highlighting the need for strategic planning and measures to address these fluctuations.
