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Brief overview on publication of Balance of payments, international investment position and external debt of the Republic of Uzbekistan for 9 months of 2020

Update date:  17 Dec 2020, 12:26
17 Dec 2020

The main factors that influenced the formation of the balance of payments indicators of the Republic of Uzbekistan for 9 months of 2020 were changes in the internal and external conditions associated with the ongoing of the global pandemic COVID-19, which led to a reduction in foreign trade, a slowdown in global business activity and an increase in financial risks.

In addition, taking into account that for 9 months of 2020 the introduction of quarantine measures was local in nature, the risk of a negative effect on cross-border money transfers did not materialize and transfers to residents remained at the level of corresponding period
of 2019. Also observed positive dynamics in world gold prices partially offset the decline in exports.

Under the influence of the above factors, the current account formed with a deficit of USD 434.2 mln (USD 1.8 billion in 9 months of 2019). The negative trade balance (balance of international services) and primary income (USD 4.2 billion) was partially offset by the positive balance of secondary income (USD 3.7 billion).

Moreover, the negative balance of the financial account amounted to USD 755 mln due to the growth of financial liabilities of residents (USD 6.1 billion), as well as the acquisition of financial assets by residents (USD 5.3 billion).

The net international investment position of the Republic of Uzbekistan as of October 1, 2020 equaled USD 22.3 billion. An analysis of the international investment position by sectors of the economy showed that in the 9 months of 2020, the general government and other sectors retain the position of «net creditor», while the banking sector is a «net borrower».

As of October 1, 2020, the total external debt of the Republic of Uzbekistan accounted for USD 29.3 billion, USD 18.7 billion of which is government sector debt, whereas USD 10.6 billion is private external debt.




USD = 11449.14
EUR = 12241.42
RUB = 140.80
GBP = 14193.50
JPY = 81.62
CHF = 12574.56
CNY = 1608.41
All currencies
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