Inflow of remittances into Kyrgyzstan grows by $4.7 million for month
In February 2023, migrants transferred $151.4 million to Kyrgyzstan, which is $4.7 million more than a month earlier. The National Bank provided such data.
Compared to February 2022, the amount decreased by $36.2 million. Russia accounts for the largest part of the remittances — $137.3 million. At least $4.1 million was transferred to the Kyrgyz Republic from other states, and $2.8 million — from the USA. In total, in January — February 2023, compatriots transferred $298.1 million to the country. This is $66.5 million less than in 2022.
According to the results of February, there was also an outflow of funds of $49.5 million. Over the month, the indicator decreased by $8.4 million. But compared to February 2022, the figure, on the contrary, increased by $8.4 million. The main part of the money was transferred to Russia ($34.3 million) and Turkey ($14 million). In total, $107.4 million was transferred from the country for two months of 2023, which is 1.4 times more than last year.
The net inflow of remittances into Kyrgyzstan as a result of January — February amounted to $190.6 million. This is $98.5 million, or 1.5 times less than the level of the first two months of 2022.
At year-end 2022, the volume of money transfers to the republic amounted to $2,928.2 billion. $1,200.7 billion was transferred from Kyrgyzstan to other countries. Net inflow was $1,727.5 billion.
