Photo: kun.uz
In April–June of this year, the volume of remittances sent to Uzbekistan from abroad reached $4.8 billion, up 21.4 percent from the second quarter of last year. A sharp increase was recorded in transfers from the Baltic states — Lithuania, Latvia, and Estonia, according to data from the Central Bank of Uzbekistan.
Cross-border transfers from these countries rose by 65.6 percent compared with April–June 2024. Analysts at the Central Bank noted that inflows from labor migrants in the United States, Russia, and Europe as a whole have slowed, while Asian countries have shown stability in this regard.
Experts attribute the increase in remittances in the second quarter to stable exchange rates, rising wages, and strong economic activity in the countries where large numbers of Uzbek citizens are employed.
Changes in external markets, particularly in Russia and the Baltic states, also played a role in shaping the current trend. This, according to the Central Bank, points to the gradual diversification of labor migration flows.
Earlier, the Central Bank reported that in January–June of this year, remittances to Uzbekistan totaled $8.2 billion, 27 percent higher than in the first half of 2024.
The bulk of transfers for the reporting period traditionally came from Russia — $6.4 billion, or 78 percent of all transactions. However, significant growth was also noted in transfers from the United Kingdom and EU countries, especially Ireland and Lithuania.
