The volume of cross-border money transfers to Uzbekistan increased in the first quarter of 2024, with a significant decrease in Russia's share. The Central Bank highlighted a shift towards geographical diversification in labor migration and new measures to support labor migrants.
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The Central Bank of Uzbekistan decided to keep the main interest rate unchanged at 14%, while updating its inflation forecast and GDP growth expectations for the year.
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Entrepreneurs in Uzbekistan are facing challenges with importing elevators due to the suspension of previously issued certificates of conformity, impacting importers and construction companies.
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Uzbekistan's car production surged in Q1 2024, with a significant increase in Chevrolet Cobalt units, while the production of Lacetti/Gentra was set to cease.
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Uzbekistan's gas imports surged to $360.2 million in Jan-Mar 2023, while gas exports amounted to $45.4 million during the same period. China, the main buyer of Uzbek gas, did not import any gas in March.
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Uzpaynet, the company behind Paynet, has undergone an ownership change with the transfer of shares to New Industrial Technologies. The sale was not officially announced, sparking curiosity and a request for clarification from "Gazeta.uz".
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Uzbekistan's foreign trade turnover in Q1 2024 reached 15.8 billion dollars, with exports, including gold, increasing by 10% and gold prices hitting historic highs.
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Gas production in Uzbekistan has significantly declined in the past five years, impacting other sectors like coal, oil, and petroleum products. Despite this, there is a positive trend in electricity generation and a shift towards renewable energy sources.
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Car sales in Uzbekistan have been declining for the second consecutive month, with March showing a 5.8% decrease compared to the previous month and a 12.9% decrease compared to March 2023.
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The Tax Committee of Uzbekistan has released the top 20 state and private taxpayers for the first quarter of 2024, showcasing a 13.4% increase in tax payments compared to the previous year.
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