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Uzbekistan ranks second in the world in terms of remittances from Russia

Finance Materials 17 June 2019 11:39 (UTC +04:00)
Uzbek Central Bank publishes volume of money transfers from Russia

Baku, Azerbaijan, June 17

By Fakhri Vakilov – Trend:

Uzbekistan ranked second in the world in terms of remittances from Russia, where from $818 million was sent only in the first quarter of 2019, Trend reports with reference to Central Bank of Uzbekistan.

At the same time, only $462 million were sent from Russia to Tajikistan, $453 million to Kyrgyzstan, $194 million to Armenia and $137 million to Kazakhstan.

Switzerland took the first place with remittances from Russia worth $1.3 billion .

As reported, $340 million were sent to Uzbekistan by the Russians, and $478 million were transferred by the Uzbeks and citizens of other countries.

The average amount of one transfer from Russia to Uzbekistan equals $349.

According to the Ministry of Employment and Labor Relations of Uzbekistan, remittances of labor migrants to Uzbekistan by 2021 could grow to $7.2 billion, or one and a half times.

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