BISHKEK, Kyrgyzstan, October 13. Individuals sent $38.1 million from Kyrgyzstan to other countries in August of this year through money transfer systems, which is 26 percent more than in the previous month, Trend reports.
Data from the National Bank of Kyrgyzstan reveals that the majority of this money were sent to Russia, accounting for $34.1 million or 89.5 percent of the total.
A smaller portion, $300,000, was sent to Kazakhstan, and $500,000 was transferred to other member countries of the Commonwealth of Independent States (CIS).
The outflow to countries outside the CIS amounted to $3.1 million in August, with $2.9 million going to Türkiye and $200,000 to other states.
Over the first eight months of 2023, the total volume of money transfers from Kyrgyzstan reached $324.9 million, which is 47 percent less than the same period in 2022.
At the same time, in August of this year, individuals transferred $155.9 million to Kyrgyzstan, representing an almost 7 percent increase compared to July.
Approximately 91 percent of the funds in August originated from Russia, totaling $141.6 million, while $300,000 came from other CIS countries.
The inflow of money transferred by individuals to the country amounted to $1.263 billion from January through August 2023, which is approximately 30 percent lower than in the same period of 2022.