In 2024, Foreign Direct Investment (FDI) in Uzbekistan grew by more than 50%, with the investment volume in the fourth quarter reaching its highest level since 2021, totaling $3.87 billion, according to a report from the Central Bank.

From January to December, investments in fixed capital rose by 27.6%, with the majority of growth coming from non-centralized investments (+32.8%). Their share in total investment increased by 3 percentage points, surpassing 90%.

However, by the end of the fourth quarter, centralized investments fell into negative territory, finishing the year with a 4.2% decline.

The volume of FDI in Uzbekistan’s economy increased by 53.6%, reaching $11.9 billion, while the share of FDI in the country’s gross domestic product (GDP) rose by 2.4 percentage points, reaching 10.3%.

While the quarterly volume of FDI remained steady at around $2.7 billion from January to September, the final quarter saw a significant jump, with direct investments totaling $3.87 billion—setting a new record since 2021, surpassing the previous peak of $3.41 billion set in late 2023.

Additionally, last year, the volume of cross-border money transfers increased by 30%, reaching $14.8 billion. The Central Bank highlights the impact of the high volatility of the Russian ruble on the slowdown of international remittances in late 2024. The difference between the sale and purchase of foreign currency by the population doubled, reaching $6.7 billion.