Tashkent, May 13 -- In 2019, Uzbekistan's GDP grew by 5.6 per cent, slightly accelerating from 5.4 per cent in 2018. In Q1 2020, the economy expanded by 4.1 per cent but is likely to contract in Q2 2020 as the impact of containment measures (lasting for at least two months) kicks in, according to the latest report by EBRD.

Exports declined by 11 per cent year-on-year in Q1 2020 despite being much more diversified in terms of products and markets compared to other countries in Central Asia. Commodity exports constituted about 50 per cent of Uzbekistan's total exports in 2019, with gold accounting for more than a half, providing a natural hedge in turbulent times.

China was Uzbekistan's largest export market in 2019, but its share in tota...