Cross-border remittances to Uzbekistan surge by 35%

Uzbekistan saw a significant increase in remittances this year, with nearly $12 billion transferred to the country from abroad. This data was presented by Central Bank Chairman Mamarizo Nurmuratov during a press conference on October 31, revealing a 34.8% rise in cross-border remittances from January to September.

Photo: Kun.uz

Totaling $11.62 billion in the first nine months of 2024, the remittances amount exceeded last year's total of $8.4 billion for the same period by $3.22 billion. As of the end of October, the overall sum reached $12.5 billion, with July recording the highest influx of $1.78 billion.

The majority of these funds came from Russia, which contributed $8.75 billion — a 35% increase in remittances from the country. Other major sources included Kazakhstan with $625 million, South Korea at $420 million, the United States with $415 million, Turkey at $291 million, the United Kingdom at $93 million, and Poland at $48 million.

The surge in remittances reflects Uzbekistan's close ties with migrant workforce destinations and the ongoing financial support they provide to families within the republic.

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