The main factors that influenced the formation of the balance of payments indicators of the Republic of Uzbekistan for I quarter of 2021 were changes in the internal and external conditions associated with the influence of coronacrisis on the world economy in 2020, which led to a reduction in foreign trade, but slow recovery in global business activity and other factors.
Under the influence of the above factors, the current account formed with a deficit of USD 2.1 million (USD 880.3 million for I quarter of 2020). At the same time, the negative trade balance (goods and services) and primary income (USD 3.2 billion) was partially offset by the positive balance of secondary income (USD 1.2 billion).
Negative balance of the financial account amounted to USD 2.1 billion due to the growth of financial liabilities of residents (USD 1.1 billion) and the reduction of financial assets (USD 932.7 billion).
The net international investment position of the Republic of Uzbekistan as for I quarter of 2021 equaled USD 18.5 billion. An analysis of the international investment position by sectors of the economy showed that the general government and other sectors retain the position of «net creditor», while the banking sector is a «net borrower».
As of April 1, 2021, the total external debt of the Republic of Uzbekistan accounted for USD 34.2 billion (USD 33.8 billion as of January 1, 2021), of which USD 21.2 billion (which was dercreased by USD 157 million relative to the beginning of the year) - government and government guaranteed external debt, and USD 13.0 billion (which was increased by USD 467 million realative to the beginning of the year) – non guaranteed external debt.
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