Central Bank: preliminary indicators of the current account of the balance of payments for 9 months of 2020
Tashkent, Uzbekistan (UzDaily.com) -- The Central Bank prepared preliminary indicators of the current account of the balance of payments for 9 months of 2020.
According to preliminary calculations, the current account deficit of the balance of payments for 9 months of 2020 amounted to US$663 million, down 63% compared to 9 months of 2019 (US$1.8 billion).
This situation is explained by such reasons as a significant reduction in imports compared to exports, the preservation of international remittances almost at the level of last year, as well as an increase in the price of gold on the world market.
The fall in world energy prices, as well as the slowdown in the global economy caused by the coronavirus pandemic, affected the volume of exports of goods and services, which made up US$11.8 billion, having decreased by US$1.1 billion compared to the same period in 2019 (US$12.9 billion).
Imports of goods and services amounted to US$16.1 billion, having decreased compared to the same period last year by US$3.4 billion (US$19.5 billion).
The negative trade balance according to the BPM6 methodology relative to 9 months of 2019 improved by 35% and amounted to US$4.3 billion.
Primary and secondary account.
The positive balance of factor incomes and transfers decreased by 25% due to a significant reduction in the international movement of individuals while maintaining the level of cross-border remittances to residents at the level of the corresponding period last year.
In turn, the investment income of non-residents (on loans issued and foreign investments) reached US$1.3 billion.
The reporting data of the balance of payments, international investment position and external debt for 9 months of 2020 in accordance with the BPM6 methodology will be presented to users in December 2020.