Inflow of remittances from migrants grows by $ 25.6 million for month
In February 2021, migrants have transferred $ 177.1 million to Kyrgyzstan that is $ 25.6 million more than in January. The National Bank of Kyrgyzstan presented such data.
Compared to February 2020, the figure decreased by $ 2.3 million. For just two months of this year, migrants have transferred $ 328.6 million to the country. This is $ 16 million less than last year.
Russia accounts for more than 97 percent of remittances — $319.8 million. Other $ 2 million was transferred from other states to the Kyrgyz Republic, and $ 5 million — from the United States.
Following the results of February 2021, an outflow of funds of $ 41.9 million was also registered. The bulk of the money was transferred to Russia — $40.4 million. The outflow is estimated at $ 74.5 million for two months.
The net inflow of remittances in January — February 2021 to Kyrgyzstan amounted to $254.1 million.
At year-end 2020, the volume of money transfers to the republic amounted to $ 2,377.16 billion. At least $ 488.23 million was transferred from the Kyrgyz Republic to other states. Net inflow is $ 1,888.93 billion.
