Baku, Azerbaijan, June 28
By Fakhri Vakilov –Trend:
In 1Q2019, South Korean individuals sent $ 34.4 million to Uzbekistan, which is 57 percent more than in the same period of 2018 ($21.8 million), Trend reports with reference to Central Bank Of Uzbekistan.
The volume of remittances from Korea in recent years has been steadily increasing. In 2016, Uzbekistan received $49 million from this country, a year later - $64.4 million, and in 2018 - $108.3 million.
The growth is facilitated by the cooperation of the two countries in the field of labor migration. South Korea is one of the most sought-after destinations for Uzbeks who want to work abroad.
South Korean Migration Service states that for 2017, 62,870 citizens of Uzbekistan were legally present in the country. In March of this year, Korea increased the quota for labor migrants from the Central Asian country to 3,200.
In recent years, South Korea is among the top three in terms of remittances to Uzbekistan from non-CIS countries.
The first place is alternately occupied by the United States and Turkey. In the first quarter of 2019, $ 45.2 million was sent from the USA to Uzbekistan, and $ 47.5 million from Turkey.
The top ten in the first quarter of this year included Israel ($18.5 million), the United Arab Emirates ($9.1 million), Sweden ($6.7 million), China ($3.9 million), Germany and Japan ($2.7 million each) and the United Kingdom ($2.3 million).
In total, individuals from non-CIS countries sent $199.8 million to Uzbekistan in 1Q2019.
This is four times less than in the same period came from Russia ($805.3 million).
The total amount of transfers received from CIS countries amounted to $864.2 million including $44.7 million from Kazakhstan, $5.5 million from Kyrgyzstan, $3.5 million from Ukraine and $1.9 million from Tajikistan.
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