Tashkent, Uzbekistan (UzDaily.com) - The Central Bank has prepared preliminary indicators for the current account of the balance of payments for 2019.

Taking into account that operational indicators are based on preliminary data and expert estimates, they may differ from actual values.

According to preliminary calculations, the current account deficit of the balance of payments at the end of 2019 made up US$2.4 billion, decreasing by 33% compared to 2018 (US$3.6 billion) and taking into account GDP growth by 5.6% the current account balance will be within 4% of GDP.

Favorable pricing conditions on world markets for commodities in Uzbekistan contributed to an increase in exports of goods and services to US$17.7 billion in 2019, compared with US$14.1 billion in 2018. The increase in the value of exports is associated with an increase in both physical volumes and the value of goods.

Imports of goods and services grew to US$26.61 billion compared to the same period of last year (US$23.4 billion). The import structure continues to be dominated by groups of goods machinery and equipment (27% of the total), vehicles (11% of the total), as well as metals and products from them (11% of the total). As a result, the negative trade balance relative to 2018 improved by 4% and reached US$8.9 billion.

The positive balance of factor incomes and transfers increased by 12% due to the growth of cross-border money transfers to residents (US$5.8 billion). In turn, the investment income of non-residents (on loans and foreign investments) also grew by 13% and reached US$1.9 billion.

The reporting data of the balance of payments, international investment position and external debt for 2019 will be compiled in accordance with the BPM6 methodology and submitted to users by the end of March 2020.