Volume of remittances between Uzbekistan and Russia decreases

Business Materials 7 July 2014 17:28 (UTC +04:00)

Tashkent, Uzbekistan, July 7
By Demir Azizov- Trend:

The volume of remittances between Uzbekistan and Russia, by individuals in the first quarter of 2014 decreased by 9.6 percent compared to the same period in 2013 to $1.047 billion, according to the Central Bank of Russia.

The volume of remittances from Russia to Uzbekistan decreased by 11.7 percent to $910 million in January - March and from Uzbekistan to Russia, it rose 7.9 percent, up to $137 million.

The average amount of money transfers from Russia to Uzbekistan was $492 versus $513 a year earlier (a decrease of 4.1 percent). The figure was $1,750 from Uzbekistan to Russia against $1,816 (a decrease of 3.6 percent).

In 2013, remittances between Uzbekistan and Russia grew by 18.3 percent - up to $7.196 billion, according to the Russian Central Bank. Remittances from Russia to Uzbekistan grew by 17 percent - up to $6.633 billion, and from Uzbekistan to Russia - by 35.3 percent up to $563 million.

The Central Bank of Russia said that data covers such systems as Anelik, BLIZKO, Coinstar Money Transfer, Contact, InterExpress, Migom, MoneyGram, PrivatMoney, UNIStream, Western Union, AziyaEkspress, Allure, Blitz, Fast Mail, Gold Crown, LEADER and Russian Post.

Edited by CN