BAKU, Azerbaijan, July 22
By Ilkin Seyfaddini – Trend:
The Central Bank of Uzbekistan has released preliminary figures for the current account of the balance of payments for the first half of 2020, Trend reports with the reference to Central Bank of Uzbekistan.
The Central Bank noted that the operational indicators were drawn up on the basis of preliminary data and expert assessments, they may differ from the actual values.
"The drop in world prices for energy resources, as well as a slowdown in the global economy has affected exports of goods and services, which amounted to $6 billion in the period from January through June 2020, which is 1.8 billion less than in the same period of 2019," the Central Bank stressed.
Imports of goods and services made up $10.4 billion which is 2.1 billion less than in the same period of 2019. Exports are dominated by precious metals (42 percent), textiles (18 percent) and plant products (10 percent).
As a result, the trade deficit against the first half of 2019 improved by six percent to $4.3 billion.
According to preliminary calculations, the current account deficit for the first half of 2020 was $2 billion, which is 14 percent more than in the same period of 2019 ($1 billion).
The surplus of factor income and transfers fell by 19 percent as a result of a significant reduction in the international movement of individuals while maintaining the level of cross-border remittances to residents.
In turn, the investment income of non-residents (on issued loans and foreign investments) was $829 million.
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