BAKU, Azerbaijan, June 13. In April 2023, the volume of money transfers in Kyrgyzstan totaled $156 million, which is $13.9 million less month-on-month, Trend reports.
The latest data from the National Bank of the country highlights a decrease of $99.2 million compared to April 2022 as well.
The majority of remittances were sent from Russia, amounting to $141.7 million. From other countries, $5.7 million was transferred to Kyrgyzstan, while $4 million came from the US. In total, compatriots have sent $624 million to the country from January through April 2023, which is $149.1 million less than in 2022.
April witnessed an outflow of funds as well, amounting to $40.3 million. This represents a decrease of $1.9 million compared to the previous month. In comparison to April of the previous year, the outflow decreased by almost half, reaching $39.4 million. The majority of funds were transferred to Russia ($38.7 million) and Türkiye ($0.7 million). In total, $189.9 million was withdrawn from the country in the first four months of 2023, which is $600,000 less than the 2022 level.
The net inflow of remittances for the period from January to April of this year is estimated at $434.1 million, which is $148.5 million less than the first two months of 2022.
According to the results of the previous year, the total volume of remittances to the country amounted to $2.9282 billion. $1.2007 billion was transferred from Kyrgyzstan to other countries, resulting in a net inflow of $1.7275 billion.