Uzbekistan may cease oil export and become biggest economy in the region by 2035 - expert

Date: 10:57, 05-06-2014.

Almaty. June 5. KazTAG - Uzbekistan will cease oil export and outstrip Kazakhstan on the economy volume by 2035, reports the Uzbekistan Telegraph Agency.

According to Veng Hung, author of the article in the World Pipelines magazine, since the beginning of this century the economies of Central Asia have been growing in average by 19.7% a year. In terms of GDP Kazakhstan grew up by 11 times from $18.3 bln in 2000 to more than $200 bln in 2012.

Referring to the prognosis of Asian Development Bank, the author of the publication forecasts that Uzbekistan where the GDP reached $51 bln in 12 years will be growing faster and become the biggest economy in the region by 2035.

Basically the growth will be provided by new stocks of gas and trade activation with China. If Uzbekistan keeps on growing with average annual rate to 6.4%, by 2035 its share will reach $128 bln.

Further, referring to the department of information on energy of the US Hung reminded that according to the ABD statement Uzbekistan will increase gas production from 60 cu m in 2010 to 71 bln cu m in 2015 and 80 cu m - in 2035.

According to the author of the article Uzbekistan is likely to cease oil export after 2035.

Share the news: