In March migrants transferred $144 million to Kyrgyzstan, down by 13% MoM, the National Bank reported.
Compared to March 2019, the figure decreased by $51.8 million, or by 26%. Compared with the data for December 2019, the decrease will amount to $70.9 million, or 33%.
In total, $457.6 million were transferred to the republic in the first quarter, down by $82.8 million or by 15.3%.
Russia accounts for more than 90% of remittances – $443.4 million. Other $7.8 million were transferred to Kyrgyzstan from other states and $5.7 million – from the United States.
There was also an outflow of funds of $39.7 million in March. The bulk of the money was transferred to Russia – $38.7 million.
The net inflow of remittances in March to Kyrgyzstan reached $104.3 million.
In 2019, the volume of remittances to the country amounted to $2,407 billion. At least $554.5 million were transferred from Kyrgyzstan to other states. Net inflow was $1,852.5 billion. (24.kg/Business World Magazine)