Transfers to Uzbekistan grew to $15.2 billion in nine months, but the pace slowed

Growth continues, but more slowly

From January to September 2026, the volume of transfers from abroad to Uzbekistan reached $15.17 billion — $1.24 billion (8.9%) more than in the same period of 2025. The data is cited by Gazeta, referring to the Central Bank's review of the domestic foreign exchange market. Over nine months, $1.95 billion was sent out of the country, and the positive balance amounted to $13.22 billion.

The slowdown is also visible on a quarterly basis

The slowdown in growth rates is clearly visible in the dynamics: in January–September 2024, incoming transfers grew by 34.7% (to $11.26 billion), a year later by 23.7% (to $13.93 billion), and in 2026 by only 8.9%. In the third quarter of 2026, inflows amounted to $5.88 billion versus $5.71 billion a year earlier — growth of just 2.9%. Amounts sent from Uzbekistan barely changed: growth of less than 1% ($1.95 billion versus $1.93 billion). For comparison, in 2025 as a whole, transfers grew by 27.2% to a record $18.9 billion, and their share in the total income of the population rose from 16.5% to 21%.

The geography is shifting and a new target has been set

The geography of transfers is gradually shifting: in the first quarter of 2026, Russia's share fell from 77.6% to 72.4%, while the shares of Kazakhstan, South Korea and EU countries grew. In the first half of the year, transfers from the United Kingdom increased by 62%, from EU countries by 27%, and from the United States by 19%. At a meeting on November 2, President Shavkat Mirziyoyev set the task of raising the annual volume of transfers to $50 billion: 'Just as we brought exports up to $70 billion, $50 billion a year should be flowing into households in this area,' Gazeta quotes him as saying.