Kyrgyzstan received $169.9 million in remittances from migrants in March 2023, which is $17.5 million more than the previous month, according to data from the National Bank. The amount also increased by $16.5 million compared to March 2022, with Russia accounting for the largest part of the remittances at $151.7 million. While $5.9 million was transferred from other states and $4.5 million from the USA. From January to March 2023, compatriots transferred $468 million to the country, which is $50 million less than in 2022.
However, there was also an outflow of funds of $42.2 million in March 2023, with the main part of the money transferred to Russia ($36.6 million) and Turkey ($4.4 million). In total, $149.6 million was transferred from the country in the first three months of 2023, which is 1.3 times more than last year.
The net inflow of remittances into Kyrgyzstan from January to March 2023 amounted to $318.4 million, which is $88.7 million, or 1.3 times less than the level of the first two months of 2022. In 2022, the volume of money transfers to the republic amounted to $2,928.2 billion, with $1,200.7 billion transferred from Kyrgyzstan to other countries. The net inflow was $1,727.5 billion at year-end 2022.