World Bank Document

The Republic of Uzbekistan, which is governed by an elected President, has a total 
population of about 27.5 million people, with approximately three million living in Tashkent, its 
capital city. 
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From 2000 to 2007, the Uzbek economy experienced significant growth, due in large 
part to production being concentrated in commodities that have seen healthy increases in 
prices over those years. Uzbekistan is now the world's sixth-largest producer and second-largest 
exporter of cotton, as well as the seventh largest world producer of gold. It is also a regionally 
significant producer of natural gas, coal, copper, oil, silver and uranium. Agriculture employs 
28% of Uzbekistan's labor force and contributes 24% of its GDP (in 2006 data). The country’s 
2007 macroeconomic performance was remarkable, as real GDP increased by 9.5%, the highest 
growth since Uzbekistan won independence in 1991. But, even though unemployment is very 
low, underemployment is estimated to be at least 20%.
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For more information, please see 
www.worldbank.org/ifa/rosc_aa.html.
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International Financial Reporting Standards are issued by the International Accounting Standards Board, an 
independent accounting standard-setter based in London, United Kingdom. In April 2001, the IASB announced that 
it would adopt all of the International Accounting Standards issued by the International Accounting Standards 
Committee. For simplicity’s sake, the term IFRS will mean both IFRS and IAS in this report. 
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International Standards on Auditing are the standards issued by the International Auditing and Assurance Standards 
Board (IAASB) of the International Federation of Accountants (IFAC). 
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Republic of Uzbekistan, Country Financial Accountability Assessment, World Bank Report No. 31345,
Operations Policy and Services Unit, Europe and Central Asia Region (October 19, 2004). 
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Country Financial Accountability Assessment, op.cit. 
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The Republic of Uzbekistan – Accounting and Auditing ROSC 
 
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