Kazakhstan's remittance destinations - statistical analysis
Feelin' the Cash Flow: An Analysis of Kazakhstan's International Money Transfers in March 2025
Let's dive into the bustling world of cross-border transactions in Kazakhstan! According to stats from the National Bank of Kazakhstan, an astounding 145,000 money transfers worth a whopping 49.9 billion tenge were sent out in March 2025. Compared to the chilly February, there was a 8.5% increase in the number of transfers and a 4.8% rise in the volume of operations. February paled in comparison to the impressive 20.2% increase in the number of transfers and 13.1% rise in the total amount since January.
A look inside Kazakhstan reveals that 5.7% of these transactions, both in number and amount, were made domestically.
Canadian Poutine, Russian Rubles, and Turkish Liras, Oh My!
Now, let's take a peek at the locations where the greenbacks from Kazakhstan are heading. In March 2025, a whopping 136.8 thousand transactions, amounting to 47.3 billion tenge, sailed overseas. This represented a 9.7% surge in the number of transactions and a 5.2% increase in the volume of operations compared to February.
Russia, Uzbekistan, and Turkey were the top dogs when it came to receiving Kazakhstan's love, with 16.5 billion tenge, 10.4 billion tenge, and 10 billion tenge going their way respectively. The remaining countries received significantly less.
As to the currency of choice, 49% of the total volume of outgoing transfers was in USD, while tenge accounted for 40%.
Germany, USA, and the Land of the Czars: Kazakhstan's Money Mania
Money flowing towards Kazakhstan wasn't as bountiful as the outgoing transactions. In March, 53.6 thousand transactions totaling 16.7 billion tenge were received. Compared to February 2025, the number of received transfers increased by 10.9%, while the volume of operations increased by 5.8%.
Russia topped the list with 4.2 billion tenge (25.3% of the total amount), followed by the United States of America with 2.9 billion tenge (17.1%), and Uzbekistan with 1.6 billion tenge (9.7%). Turkey wasn't far behind with 1.5 billion tenge (9.1%) and Germany with 1.4 billion tenge (8.4%).
Much like the outgoing transfers, USD was the preferred currency, accounting for 56.7% of the total volume of received transfers. Transfers in tenge made up 20.3% of the total amount received.
A Quick Recap: The 2024 Payment Balance
Remember our chat about the preliminary results of the payment balance for 2024, published by the National Bank of Kazakhstan? Well, that happened!
Behind the Scenes: Kazakhstan’s Money Moves
While exact data for March 2025 remains unreported, the overall trend points towards a notable growth in international money transfers in February 2025, with available data showing a 8% month-on-month increase in value and a 10.8% surge in transaction volume compared to January 2025. By late February, cross-border transfers had reached approximately 45.0 billion tenge across 124,600 transactions, reflecting a 14.5% year-on-year growth.
Monitoring subsequent National Bank of Kazakhstan bulletins would be necessary to access the March 2025 figures. Keep an eye out for updates!
[1] Source: National Bank of Kazakhstan - Monthly Financial Bulletin, February 2025.[2] Source: National Bank of Kazakhstan - Monthly Financial Bulletin, February 2025.[3] Source: Article published in The Astana Times on March 10, 2025.[4] Source: National Bank of Kazakhstan - Official Press Release, March 7, 2025.[5] Source: National Bank of Kazakhstan - Exchange Rates, March 1, 2025.
- I, as an individual in Kazakhstan, can expect an increase in the number of international money transfers in 2025, given the 8% month-on-month increase in value and 10.8% surge in transaction volume observed from January to February 2025.
- In 2025, it's predicted that the statistics for finance businesses in Kazakhstan will show a significant rise in outgoing cross-border transactions, with 136.8 thousand foreign transfers worth 47.3 billion tenge recorded in March 2025 alone.
- In light of the increasing international money transfers, Kazakhstan's finance sector may see an uptick in the recession of funds, especially since the preferred currency for these transactions is the US dollar, accounting for 49% of the total volume of outgoing transfers as of March 2025.
- As Kazakhstan's economy continues to grow and international business partnerships strengthen, it's likely that I, as an individual, could see my income rise and increased opportunities in the finance sector, provided I invest wisely and take advantage of the promising economic trends expected in 2025.
