In the first half of 2025, the volume of money transfers sent to Uzbekistan by labor migrants working abroad amounted to $8.2 billion. While this figure decreased by $1.8 billion compared to the same period last year, transfers from certain countries have seen a significant increase.

The majority of remittances — 78% or $6.4 billion — came from Russia. Substantial amounts were also transferred from countries such as South Korea, the United States, Turkey, the United Kingdom, Kazakhstan, Kyrgyzstan, and Lithuania. Notably, the share of remittances from developed countries is growing — for example, money transfers from the United Kingdom have doubled, and those from European Union countries have increased by 41%.

Most funds were transferred through banks, accounting for 53% of the total, or $4.3 billion. An additional $2.3 billion was sent via money transfer systems, and $1.8 billion through the SWIFT system.

Increased activity was also observed in the foreign exchange market. During the first six months of the year, individuals purchased $7.4 billion in foreign currency — a 27% increase year-on-year. Foreign currency sales reached $5.4 billion, reflecting an 18% rise.

The use of modern banking services continues to grow. Fifty-eight percent of individuals conducted their currency exchange transactions via mobile applications. On average, 247,000 foreign exchange transactions were recorded per day, highlighting growing public trust in and convenience of financial services.

Overall, the inflow of remittances not only helps diversify household income sources but also contributes positively to the development of Uzbekistan’s banking system and financial services sector.