Thursday13 February 2025
centralasiabusiness.com

The volume of cross-border transfers in Uzbekistan has increased by 30%.

In 2024, the volume of cross-border money transfers to Uzbekistan increased by 30% compared to the previous year, reaching a total of $14.8 billion.
Объем трансграничных переводов в Узбекистане увеличился на 30%.

The main portion of remittances (77%) came from transfers from Russia, totaling $11.5 billion. A significant increase was also observed from the United Kingdom (+83%), South Korea (+56%), the USA (+35%), and EU countries (+32%).

The volume of transfers to bank cards (P2P) grew by 51%, reaching $5.9 billion, while its share in the total volume of remittances rose to 40%. The number of transactions reached 71 million, which is 47% more than in 2023.

The volume of foreign currency exchange operations between banks and individuals reached $25.5 billion, marking a 19% increase. Residents of Uzbekistan sold foreign currency to banks amounting to $16.1 billion (+31%), which exceeds the volume of purchased currency by $6.7 billion.

The number of exchange points increased by 20%, reaching 6.2 thousand, while the number of round-the-clock ATMs for currency exchange exceeded 3.4 thousand.