BAKU, Azerbaijan, April 24. The volume of remittances inflow to Kazakhstan from January through February 2023 increased by almost 70 percent year-on-year, reaching $119 million, Trend reports, citing the National Bank of Kazakhstan.
According to the data, Russia ranked first among the countries sending the most money to Kazakhstan in the reporting period of 2023, with a money flow worth $47 million. At the same time, the volume of Russia's remittances to Kazakhstan over the first two months of the current year increased by 5.7 times, or by $8.3 million year-over-year.
Russia is followed by Uzbekistan, which transferred money worth $13.4 million (up by 1.3 percent), and South Korea, with money transfers of $11.4 million (an increase of 14.7 percent).
The TOP-10 countries in terms of money flows to Kazakhstan:
|
Countries |
Money transfer (2M2023) |
Difference (compared to 2M2022) |
|
Russia |
$47 million |
up by 5.7 times |
|
Uzbekistan |
$13.4 million |
up by 1.3 percent |
|
South Korea |
$11.4 million |
up by 14.7 percent |
|
US |
$11.3 million |
up by 17 percent |
|
Türkiye |
$6.5 million |
up by 75 percent |
|
Kyrgyzstan |
$5.6 million |
down by 39 percent |
|
Germany |
$5.4 million |
up by 12.5 percent |
|
Georgia |
$1.5 million |
up by 37 percent |
|
Israel |
$1.09 million |
up by 24 percent |
|
Others |
$12.6 million |
up by 35 percent |
Russian KoronaPay is the most popular payment system for money transfers to Kazakhstan, followed by Western Union and MoneyGram.