THE IMPACT OF LABOR MIGRANT REMITTANCES ON UZBEKISTAN'S DOMESTIC ECONOMY

Аннотация

Labor migration and the remittances it generates have become a defining feature of Uzbekistan's economy over the past two decades. This article examines the scale of remittance inflows, which grew from roughly $6 billion in 2020 to nearly $19 billion in 2025, with Russia remaining the dominant source despite gradual diversification toward Kazakhstan, South Korea, Turkey, and the European Union. Drawing on Central Bank of Uzbekistan and World Bank data, the article evaluates the positive effects of remittances — poverty reduction, increased consumer demand, and balance-of-payments support — alongside structural risks, including dependence on the Russian economy, labor market distortions, and inflationary pressure. It concludes by reviewing current policy responses aimed at diversifying migration destinations and converting remittance income into more durable, productivity-based economic growth.