In October 2023, migrants transferred $174.3 million to Kyrgyzstan, which is $100,000 less than a month before. The National Bank provided the data.
Compared to October 2022, the figure decreased 1.6 times, or by $112.6 million. Russia accounts for the majority of remittances—$159.3 million. At least $9.2 million was transferred from other countries to the Kyrgyz Republic, and $3 million — from the United States. In total, in January — October of this year, compatriots transferred $1,611.9 billion to the country. This is 35 percent, or $886.6 million, less than last year.
At the end of October, there was also an outflow of funds — $35.7 million. Over the month, the figure increased by $500,000. In contrast to October 2022, the figure decreased 4.4 times, by $124.7 million. The bulk of the money was transferred to Russia ($29.5 million). In just ten months of 2023, at least $395.7 million was withdrawn from the republic, which is $544 million less than last year.
The net inflow of remittances in January — September of this year to Kyrgyzstan amounted to $1,216.2 billion.
This is $342.5 million, or 22 percent, less than the figure for ten months of 2022.
At the end of last year, the volume of remittances to the country amounted to $2,928.2 billion. About $1,200.7 billion was transferred from the Kyrgyz Republic to other states. Net inflow is $1,727.5 billion.
