Remittances from Kazakhstan to Uzbekistan account for about 30% 

Remittances from Kazakhstan to Uzbekistan accounted for about 30% of the total transfers, Spot reports citing Ranking.kz.

According to the National Bank of Kazakhstan, in January-November 2021, individuals transferred 921.3 billion tenge ($2.1 billion at current exchange rates) abroad. This is more by 29.2% than in 2020.

Uzbekistan is the first among the recipients of remittances from Kazakhstan. For 11 months, 278.5 billion tenge ($639.6 million) was transferred to Uzbekistan.

Also:

• Turkey occupied the 2nd place – 189.2 billion tenge ($434.5 million);
• Russia – 3rd place, 162.1 billion tenge ($372.3 million).

In addition, Kazakhstan received 256.2 billion tenge or $588.3 million from abroad, slightly less than in 2020.

These funds include:

• Remittances from Russia – $111.8 million;
• from Uzbekistan – $102.2 million;
• from South Korea – $83.1 million.

According to Spot, Uzbekistan also ranks first in the CIS in terms of remittances from Russia. In July-September 2021, labor migrants remitted $1 billion from there – almost half of all remittances to CIS countries.

In the first 11 months of 2021, Uzbekistan received $7 billion in remittances, which is more by 35% than last year. It was noted that these funds will help maintain the exchange rate of the soum, as well as the purchasing power of the population.