Baku, Azerbaijan, May 10
By Fikret Dolukhanov – Trend:
In January-April 2018, the volume of foreign currency, purchase by legal entities in Uzbekistan, amounted to $2.8 billion, the press service of the Central Bank of Uzbekistan stated on May 10.
Reportedly, purchase of foreign currency was carried out for the import of goods, repayment of foreign loans, import of consumer goods and medicines, repatriation of incomes of foreign investors and other purposes.
In January-April 2018, the volume of sales of foreign currency by commercial banks and exporters amounted to $1.9 billion ($1.3 billion by legal entities, $0.6 billion by commercial banks).
The volume of export earnings amounted to $1.6 billion in the 1Q2017, whereas in the 1Q2018 the figure amounted to $2.0 billion, which is 25 percent more. The trend indicates a positive dynamics of export growth, caused by liberalization of the foreign exchange market in September 2017 and cancellation of the mandatory sale of a part of export earnings.
The volume of payments for imports in 1Q2018 amounted to $3.0 billion, which is 33 percent more compared to the 1Q2017. The growth is reasoned by transition of entrepreneurs' transactions from the informal economy to the banking sector, as well as by current growth of crediting in foreign currency for purchase of technological equipment and production lines in line with adopted investment programs. Over $670-million credits were allocated as part of the investment projects in the 1Q2018.
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