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Finance 08/03/2013 Remittance turnover between Uzbekistan and Russia grows by 33%
Remittance turnover between Uzbekistan and Russia grows by 33%
Tashkent, Uzbekistan (UzDaily.com) -- Total volume of money transfers between Uzbekistan and Russia made up US$6.084 billion in 2012 compared to US$4.575 billion in 2011, Central Bank of Russia said.

The growth rate made up 32.98%. According to the Central Bank of Russia, total sum of transactions from Russia to Uzbekistan grew from US$4.262 billion in 2011 to US$5.668 billion in 2012. The growth rate made up 32.99%.

At the same time, average sum of one operation from Russia to Uzbekistan made up US$596 in 2012 against US$602 in 2011 (-0.1%), the regulator said.

The Russian Central Bank said that the volume of money transfers from Uzbekistan to Russia reached US$416 million in 2012 compared to US$313 million in 2011 (+32.91%) and average sum of one transaction rose from US$1,616 to US$1,742.

Uzbekistan leads on the volume of transactions among the CIS states in the reporting period. Tajikistan and Ukraine followed Uzbekistan. The volume remittances of Tajikistan and Ukraine with Russia made up US$3.952 billion (US$3.166 billion in 2011) and US$2.982 billion (US$2.607 billion) respectively in 2012.

The volume of money transfers between Uzbekistan and Russia grew from US$1.213 billion in the fourth quarter of 2011 to US$1.721 billion in the fourth quarter of 2012 (+41.88%).

At the same time, some US$1.602 billion (US$1.126 billion in 4Q 2011) were sent from Russia to Uzbekistan in the fourth quarter of 2012 and from Uzbekistan to Russia – US$119 million (US$87 million in 4Q 2011).

Average sum of a transaction made up US$620 (US$620 in 4Q 2011) and US$1,669 (US$1,634 in 4Q 2011) respectively, the Central Bank of Russia said.

The Central Bank of Russia monitors such money transfer systems as Anelik, BLIZKO, Coinstar Money Transfer, Contact, InterExpress, Migom, MoneyGram, PrivatMoney, UNIStream, Western Union, Aziya Express, ALLYUR, Blitz, Bystraya Pochta, Zolotaya Korona and LIDER, as well as Pochta Rossii.

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