Almost 680 billion tenge was sent through money transfer systems to Kazakhstan in 2022. More than half of this amount was made up of transfers from Russia, according to the material of the Kazakh Kursiv.kz.
In 2022, the turnover of cross-border money transfers in Kazakhstan amounted to 1.7 trillion tenge, compared to 2021, it increased by a third. 60.5% accounted for outgoing money transfers from the country, 39.5% - for incoming ones. And this ratio has changed significantly compared to 2021: then, transfers received in Kazakhstan from abroad accounted for only 22% of the total turnover of cross-border money transfers.
Money transfers to Kazakhstan (made through money transfer systems, MTS) in 2022 reached a record 680 billion tenge (+139% by 2021).
Among the countries from which transfers to Kazakhstan are received steadily from year to year are Russia, Uzbekistan and Kyrgyzstan. If in 2021 these countries accounted for 18.7 in the total volume of transfers to Kazakhstan; 17.6 and 12%, respectively, then in 2022 more than half of all transfers through the MTS came from Russia. The Russian share in the total volume of transfers to Kazakhstan increased to 52.6%, the share of Uzbekistan decreased to 7.9%. The share of Kyrgyzstan grew to only 13.9%, although funds from Kyrgyzstan to Kazakhstan were transferred 2.8 times more than in 2021.
Funds for 357.1 billion tenge were transferred from Russia to Kazakhstan, and this is almost seven times more than a year earlier (53 billion tenge). Transfers from Russia began to increase sharply in April, the dynamics of transfers from Russia to Kazakhstan peaked in the summer of 2022. So, in June, the volume of transferred funds amounted to 66.9 billion tenge, which is 13 times more than in June 2021 (5.1 billion). In July, due to transfers from Russia, the flow of incoming funds through the FTS even exceeded the outgoing flow.
In 2021, Ukraine was among the top ten countries sending money transfers to Kazakhstan in April, July, September, October and November. In 2022, Ukraine was not among the ten countries highlighted in the statistics of the National Bank of Kazakhstan.
The volume of money transfers sent through the FTS from Kazakhstan abroad in 2022 amounted to 1.037 trillion (+2.7% by 2021).
The leaders among the countries receiving remittances from Kazakhstan were Uzbekistan and Turkey, which accounted for 27.9 and 26.2% of the total volume of remittances abroad, respectively. The volume of transfers to Uzbekistan decreased from 298 billion to 290 billion tenge compared to 2021, while the volume of transfers to Turkey increased markedly - from 211 billion in 2021 to 272 billion tenge in 2022. Transfers through the FTS to Russia also increased at the end of the year - from 177 billion in 2021 to 196 billion tenge in 2022. The share of Russia in the total volume of outgoing transfers changed slightly - from 17.5% to 18.9%. In 2022, Ukraine was among the top ten recipients of transfers from Kazakhstan in February, June, July and from September to the end of the year. The largest transfer of funds to the country (the equivalent of 895 million tenge) was observed in September. In 2021, Ukraine also consistently (10 months out of 12) was among the countries where the largest money transfers come from the Republic of Kazakhstan.
CentralasianLIGHT.org
February 14, 2023