THE DEVELOPMENT OF E-COMMERCE – AN IMPORTANT FACTOR IN THE QUALITY FORMATION OF THE DIGITAL ECONOMY

Abstract

E-commerce has changed the course of national economic growth and greatly raised people’s living conditions. These developments have especially raised social efficiency. Macroeconomic and microeconomic settings have been greatly impacted by e-commerce as access to large information systems, the volume of data grows, and data processing advances help to shape both of these environments. This guarantees timely access to information, eliminates uncertainty in economic operations, lowers the cost of data collecting, increases the efficiency of economic processes, and finally helps the market resource allocation mechanism to be better. Though it will not totally reverse this trend, the results of the study show that digitalization would progressively change Uzbekistanʼs economy by boosting efficiency and reducing the declining trend of possible development as the economy achieves maturity. Maximizing the advantages of digitization while limiting problems including labor market disruptions, privacy violations, the emergence of monopolies, and financial dangers depends on the government acting in a vital role.