BAKU, Azerbaijan, Apr. 3
By Klavdiya Romakayeva - Trend:
The volume of cross-border transfers of individuals to Uzbekistan in 2020 increased compared to 2019 ($6.01 billion) by $17.4 million, or 0.3 percent, Trend reports referring to the report of the Central Bank of Uzbekistan (CBU).
According to the Central Bank, the volume of cross-border transfers of individuals to Uzbekistan in 2020 amounted to $6.03 billion.
The CBU noted that this figure is more than Uzbekistan's revenues from gold exports, which amounted to $5.8 billion last year.
At the same time, the volume of foreign exchange funds sent from the country reached $1.19 billion, which is $157.2 million, or 15 percent, more than in the previous year ($1.04 billion).
In addition, the positive balance on cross-border transfers was at the level of $4.83 billion.
Thus, transfers from Russia fell by 5.1 percent, from $5.07 billion to $4.81 billion. But at the same time, they grew from Kazakhstan - by 8.3 percent (from $357 million to $386.8 million), Turkey - 28.7 percent (from $152.6 million to $196.4 million), the US - 2 times (from $167.4 million to $344.8 million), South Korea - 2.1 times (from $120.5 million to $258.2 million), Israel - 2.2 times (from $58.6 million to $132.4 million), Sweden - by 79 percent (from $24.9 million to $44.7 million).
According to the Central Bank, restricting the movement of individuals across the border of Uzbekistan within the framework of the introduced quarantine measures and, accordingly, reducing the import of foreign currency cash, was the main reason for maintaining the volume of cross-border remittances received by residents at the level of the same period in 2019.
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