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Kazakhstan reveals TOP-10 countries by remittances inflow

Kazakhstan Materials 24 April 2023 11:15 (UTC +04:00)
Asmar Bayramova
Asmar Bayramova
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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.

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