OCT. 31 2013 (The Conway Bulletin) — With Uzbekistan being a secretive sort of place, grabbing titbits of genuine economic data to analyse is important.
This is where Russia’s Central Bank has helped out. It said on Oct. 31 that labour migrants from Uzbekistan sent $1.6b back home in the second quarter of the year, that’s April, May and June.
For the poor of Central Asia, Russia is the obvious place to head to for work. It is the former colonial master, speaks the same language and needs plenty of labourers.
In the first quarter of 2013, Uzbek migrants sent $1b back home. Most of the migrants, like many from Central Asia, work in the construction industry in Russia. Altogether, it looks as if migrant workers send roughly $5b to $6b back to Uzbekistan every year which equals about 10% of Uzbekistan’s total GDP.
Uzbekistan doesn’t publish remittance data, making the Russian Central Bank data so important.
ENDS
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(News report from Issue No. 159, published on Nov. 6 2013)