Assessment of physical economy through economy-wide material flow analysis in developing Uzbekistan

Abstract

In this paper, we assess the physical dimensions of Uzbekistan's economy during 1992–2011 by using the economy-wide material flow analysis (EW-MFA) method, which is an internationally recognized tool for such assessments. There have been a number of studies using methodological standardization of EW-MFA, but to the best of our knowledge, it has never been used to assess the metabolism of Central Asian economies, especially, in this case, the Republic of Uzbekistan.Our analysis strives to empirically evaluate macroscopic economic activities by considering the accounting of material flows. The material flows data-set comprises of consistent data for domestic extraction, imports, and exports, as well as other derived MFA-based indicators.The derived indicators are internationally compared for further evaluation of national economic development performance in a given period. The indicators of direct material input (DMI) and total material requirements (TMR) showed a slight increase in 1992–2011 with an average annual increase of 2.79% and 2.34%. The trends of TMR, DMI, domestic material consumption (DMC) and material efficiency, which is indicated by GDP/DMI, displayed lower values than other industrialized countries referenced in the international comparison. Although national economic performance data showed particularly remarkable success, indicators measuring material inputs and DMC reveal an insignificant increase during the period of study. During the second decade of study period, relative decoupling has occurred which indicated that the economic indicator (GDP) grows faster than DMC and other macro indicators grow.