Remittances to Uzbekistan exceed $18.9 billion, tripling in five years

Migration geography expands

The Central Bank noted that Uzbek labor migrants are no longer concentrated solely in traditional destinations such as Russia, Kazakhstan, South Korea, and Turkey, but are increasingly entering labor markets across Europe and Asia.

In 2025, remittances from the European Union totaled $563 million, up by $253 million, or 37 percent, compared to 2024.

Other major sources also recorded steady growth. Transfers from the United States reached $665 million, marking a 15 percent annual increase. Remittances from South Korea totaled $612 million, also up 15 percent, while inflows from the United Kingdom rose to $188 million, a 39 percent increase year on year.

Regional partners remained significant contributors. Remittances from Kazakhstan increased to $903 million, compared to $795 million in 2024, while transfers from Turkey rose to $547 million from $406 million a year earlier.

Russia remains dominant source

Although the Central Bank’s latest commentary did not provide full-year figures for transfers from Russia, the country continues to account for the largest share of remittance inflows.

Between January and October 2025, Uzbekistan received $15.8 billion in transfers from abroad, of which nearly 78 percent, or $12.3 billion, originated from Russia. If this trend persisted through the final two months of the year, Russia’s contribution to total annual remittances would be close to $15 billion.

The Central Bank attributed the overall growth in remittance inflows to sustained demand for labor and relatively stable wage levels in migrant destination countries. Increased economic activity and the strengthening of national currencies in those countries also supported higher transfers.

Global migration patterns

According to data from the United Nations, most international migrants worldwide were concentrated in high-income countries in 2024. The largest host countries included the United States, with more than 52 million migrants, followed by Germany with 16.8 million and Saudi Arabia with 13.7 million.

Other major destinations included the United Kingdom, France, Spain, Canada, the United Arab Emirates, and Australia, each hosting between 8 million and 12 million migrants.

On the supply side, countries with large populations and relatively lower wage levels continue to dominate global labor migration. Leading migrant-sending nations include India, Mexico, Philippines, Pakistan, and Bangladesh.