The volume of remittances from abroad to Uzbekistan increased by 13%, or $1.1 billion, from January to June 2026, compared to the same period last year, reaching $9.3 billion, according to data from the Central Bank of Uzbekistan, Gazeta.uz reported.
By comparison, in the first half of 2025, remittances amounted to $8.2 billion. However, the dynamics of remittances accelerated significantly in the second quarter. While in January and February, remittances amounted to $1.2 billion, they reached $1.3 billion in March, $1.6 billion in April, $1.7 billion in May, and $2.2 billion in June.
The Central Bank of Uzbekistan attributes the increase in remittances to continued high demand for labor and rising wages in the main countries of labor migration, as well as the strengthening of their national currencies.
Russia remains the most important destination. According to Rosstat, the average nominal accrued wage in Russia in the first quarter of 2026 amounted to 106,900 rubles, an increase of 15.1% in nominal terms and 8.7% in real terms year-on-year. Moreover, the Russian ruble strengthened against the dollar by an average of 13.5% in the first half of the year compared to the same period in 2025.
At the same time, the importance of other countries is growing. Remittances from Kazakhstan increased from $366 million to $469 million, from the United States from $313 million to $372 million, from South Korea from $282 million to $314 million, and from Turkey from $266 million to $303 million.
Particularly significant growth was recorded in areas related to developed countries. Remittances from the UK increased by 62%, from $89 million to $144 million. Remittances from the European Union increased by 27%, from $251 million to $319 million, and from the US by 19%. Among EU countries, remittances from Ireland grew particularly rapidly, by 86%, Lithuania by 18%, and the Netherlands by 7%.
The $1.1 billion increase in remittances demonstrates that labor migration remains one of the most important sources of foreign exchange earnings for Uzbekistan. At the same time, the structure of migration flows is changing: alongside traditional dependence on the Russian labor market, remittances from Kazakhstan, the US, South Korea, Turkey, the UK, and EU countries are increasing.
This diversification potentially increases the economy's resilience to changes in a specific labor market. At the same time, the acceleration in remittances reflects rising incomes for Uzbek migrants and the continued demand for their labor abroad.
CentralasianLIGHT.org
August 17, 2026