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Inflow of remittances from migrants to Kyrgyzstan decreases by almost 11 percent

In July 2020, migrants have transferred $ 248 million to Kyrgyzstan that is 10.7 percent less than in June. The National Bank of the country provided such data.

Compared to July 2019, the figure increased by $ 23.3 million. If we compare the volume of transfers in July with the data for December last year, the growth reached $ 33.1 million.

At least $ 1,225.3 billion have been transferred to the republic for seven months of 2020. This is $ 125.7 million less than for the same period in 2019.

Russia accounts for more than 90 percent of remittances — $ 1,197.6 billion. Other $ 11.2 million were transferred from other states to the Kyrgyz Republic, and $ 12 million — from the United States.

Following the results of seven months of this year, there was also an outflow of funds — $ 259.1 million. The bulk of the money was transferred to the Russian Federation — $ 252.2 million.

The net inflow of remittances in January — July 2020 to Kyrgyzstan amounted to $ 966.2 million.

According to the results of last year, the volume of money transfers to the republic reached $ 2,407 billion. About $ 554.5 million have been transferred from the Kyrgyz Republic to other states. Net inflow was $ 1,852.5 billion.

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