Central Bank: current account deficit of balance of payments reaches US$2.5 billion
Tashkent, Uzbekistan (UzDaily.com) -- According to preliminary data, the current account deficit of the balance of payments of Uzbekistan in the first quarter of 2021 made up US$2.5 billion. This was reported by the press service of the Central Bank of Uzbekistan.
At the same time, the negative balance (US$3.7 billion) of the trade balance (goods and services) and primary income was partially offset by the positive balance (US$1.2 billion) of secondary income.
Exports of goods (excluding non-monetary gold) increased by 23 percent over the same period of last year, amounting to US$1.9 billion. The main share of exported goods was made up of commodity groups "textiles and textile products" – US$720 million, "base metals and products from them" – US$326 million, "products of vegetable origin" - US$182 million, as well as "products of the chemical industry"- US$132 million.
Exports of services compared to last year decreased by 33 percent, amounting to US$407 million. At the same time, as a result of restrictive measures related to the pandemic, the travel component saw a 69% decrease compared to the same period of last year.
Compared to the same period last year, imports of goods increased by 14 percent and amounted to US$5.2 billion. The main share of imported goods was made up of the commodity groups "machinery, equipment, mechanisms" - US$1.4 billion, "base metals and products from them" - US$716 million, "chemical products" - US$615 million, as well as " means of land, air and water transport "- US$518 million.
Compared to the same period of last year, imports of services decreased by 13 percent and amounted to US$923 million. At the same time, the main change in the structure of imported services falls on the “travel” component, which decreased by 53 percent compared to the same period last year.
The balance of primary income was negative and reached US$305 million. At the same time, as a result of restrictive measures associated with the pandemic, the income of short-term workers has decreased. At the same time, there was an increase in expenses due to accrued interest on borrowed loans and income of direct foreign investors.
The surplus in secondary income reached US$1.2 billion, an increase of 20 percent over the same period of last year.