In June 2024, the volume of money transfers sent from Kazakhstan through international money transfer systems amounted to 206,500 transactions totaling 75.3 billion tenge, or about $164 million. Compared to May 2024, there was a 6.2% decrease in the number of transfers and a 0.6% decrease in the volume of transactions, Zakon.kz reports.
Of these, 200,350 transactions totaling 73 billion tenge were sent abroad. Compared to May 2024, the number of sent money transfers decreased by 7.2%, and the volume of transactions decreased by 1.1%.
By the volume of money sent from Kazakhstan, Uzbekistan ranks first with 28.7 billion tenge (39.3%), followed by Russia with 19.6 billion tenge (26.9%), Turkey with 10.6 billion tenge (14.5%), Georgia with 4.9 billion tenge (6.7%), and Kyrgyzstan with 2.6 billion tenge (3.6%).
Notably, the share of transfers to Uzbekistan has increased more than threefold since the beginning of the year—from 8.8 billion tenge in January 2024. The country has been in the leading position for the second consecutive month— in May, 26.6 billion tenge were sent to Uzbekistan, which accounted for 36% of the total amount. Traditionally, Russia held the largest share of international transfers.
The majority of sent transfers were made in US dollars (34.4% of the total number of sent transfers, 58.6% of the total volume of sent transfers) and in Kazakh tenge (54.3% and 32.4%, respectively).
Transfers from Abroad
In June 2024, Kazakhstan received 63,800 transactions totaling 19.3 billion tenge, or $42 million. Compared to May 2024, the number of received money transfers also decreased by 13.9%, and the volume of transactions decreased by 6.2%.
The largest amount of money sent to Kazakhstan came from Russia—5.3 billion tenge ($11.5 million), the USA—2.6 billion tenge ($5.6 million), and South Korea—2.3 billion tenge ($5.0 million).
The majority of received money transfers through international money transfer systems were in US dollars (40.8% of the total number of received transfers, 57.9% of the total volume of received transfers) and Kazakh tenge (32.3% and 22.3%, respectively).
CentralasianLIGHT.org
July 31, 2024