Impact of Exchange Rate Fluctuations on Uzbekistan's Export-Led Growth
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This paper explores the impact of exchange rate fluctuations on Uzbekistan's export-led growth, focusing on how changes in the value of the national currency influence the country's export performance and overall economic development. As Uzbekistan seeks to diversify its economy and enhance its export capacity, understanding the relationship between exchange rate dynamics and export competitiveness is crucial. The study analyzes historical exchange rate data alongside export trends, highlighting the periods of significant currency devaluation and their effects on key export sectors such as agriculture, textiles, and energy. It also examines the policy measures implemented by the government to stabilize the currency and mitigate adverse effects on exporters. The findings suggest that while exchange rate depreciation has sometimes provided a temporary boost to exports, sustained volatility poses challenges for long-term export-led growth. The paper concludes with recommendations for exchange rate management policies that can support sustainable export expansion and economic resilience in Uzbekistan.
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