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Inflow of remittances from migrants grows by $ 40 million for a month

In October 2020, migrants have transferred $ 226.2 million to Kyrgyzstan that is $ 40 million more than in September. The National Bank of Kyrgyzstan presented such data.

Compared to October 2019, the figure increased by $ 5.8 million. If we compare the volume of transfers in October with the data for December last year, the growth amounted to $ 11.3 million.

At least $ 1,955.04 billion was transferred to the republic for ten months of 2020. This is $ 45.59 million less than for the same period in 2019.

Russia accounts for more than 97.9 percent of remittances — $ 1,914.88 billion. Another $ 14.64 million was transferred from other states to the Kyrgyz Republic, and $ 18.39 million — from the United States.

Following the results of ten months of the year, an outflow of funds of $ 394.96 million was also registered. The bulk of the money was transferred to Russia — $ 384.25 million.

The net inflow of remittances in January — August 2020 to Kyrgyzstan amounted to $ 1,560.08 billion.

Last year, the volume of money transfers to the republic amounted to $ 2,407 billion. At least $ 554.5 million was transferred from the Kyrgyz Republic to other states. Net inflow is $ 1,852.5 billion.