Tashkent, Uzbekistan (UzDaily.com) -- The Central Bank has prepared preliminary indicators for the current account of the balance of payments for the first quarter of 2020.

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 for the first quarter of 2020 made up US$864 million, decreasing by 18% compared to the first quarter of 2019 (US$1.0 billion).

The fall in world energy prices, as well as the slowdown in the global economy, affected the volume of exports of goods and services, which reached US$3.3 billion, compared with US$3.7 billion last year. At the same time, the increase in the value of some commodities exported by Uzbekistan partially offset the losses.

Imports of goods and services made up US$5.41 billion compared with the same period last year (US$5.9 billion). The import structure is dominated by groups of goods machinery and equipment (30% of the total), metals and products from them (14% of the total), chemical products (11% of the total), as well as vehicles (10% of the total volume).

As a result, the negative trade balance relative to the 1st quarter of 2019 improved by 9% and made up US$2.0 billion.

The positive balance of factor income and transfers remained at the level of the same period last year due to a slight increase in cross-border remittances to residents (US$1.0 billion). In turn, the investment income of non-residents (on loans and foreign investments) reached US$422 million.

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