Chief Editor: Ansar Mahmood Bhatti

Uzbekistan receives USUS$2.3 billion of remittances from abroad in 1H


Tashkent, (DNA) – The total amount of money transfers of individuals to Uzbekistan from abroad made up was US$2.3 billion in the first half of 2018.

Of which, taking into account the amount of imported foreign currency cash by residents (US$0.6 billion), US$1.1 billion or 39% are referred to transfers, the Central Bank of Uzbekistan said.

According to the results of the first half of this year,Uzbekistan is a net recipient of remittances from Russia (77% of total remittances), Kazakhstan (6%), USA (4%), Turkey (4%), Korea (2%), Israel (1%), Sweden, UAE and a number of other countries, as well as net payer of remittances to China, Ukraine, Lithuania, Azerbaijan, Poland and other countries.

Transfers from Uzbekistan in the first half of 2018 amounted to US$401.1 million. The bulk of the funds transferred to China, Turkey and Russia, could be transferred as payments for “shuttle” imports.

In this connection, when calculating personal transfers to non-residents, funds transferred to these countries are not taken into account, the regulator stressed.

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