Uzbekistan unveils reason for money transfer growth from Russia

Central Bank of Uzbekistan has said that the money transfers from Russia to Uzbekistan increased due to parallel imports.

The volume of money transfers increased by 2.6 times to $14.5 billion in 2022 compared to a year earlier, Lenta.ru reports.

This was possible amid the introduction of parallel imports in Russia, while some goods are supplied through Central Asia and directly through Uzbekistan.

Among other factors that influenced the growth of money transfers are an increase in the volume of payments for previously received goods, services and advances in the export of goods.