Tashkent, Uzbekistan (UzDaily.com) — Foreign direct investments (FDI) in Uzbekistan’s economy increased by over 50% in 2024, according to data from the Central Bank.

From January to December of last year, investments in fixed capital grew by 27.6%.

The primary increase came from decentralized investments, which rose by 32.8%, making up more than 90% of the total, increasing by 3 percentage points.

However, centralized investments showed a negative trend in the fourth quarter, ending the year with a 4.2% decline.

FDI in Uzbekistan’s economy increased by 53.6%, reaching US$11.9 billion, and their share in the country’s GDP grew by 2.4 percentage points to 10.3%.

While quarterly FDI volume averaged about US$2.7 billion from January to September, in the last quarter of 2024, direct investments surged to a record US$3.87 billion, marking the highest value since 2021 and surpassing the previous record set in late 2023 (US$3.41 billion).

Additionally, cross-border remittances in 2024 rose by 30%, reaching US$14.8 billion. The Central Bank also noted that the high volatility of the Russian ruble impacted the slowdown of international transfers at the end of the year.

The difference between the sale and purchase of foreign currency by the population doubled, reaching US$6.7 billion.