Uzbekistan Sees Nearly Threefold Surge In Money Transfers From Kazakhstan

2023-12-30 10:06:33

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, December 31. The volume of money transactions from Kazakhstan to Uzbekistan amounted to 4.6 million for November of 2023, Trend reports.

As per data provided by the National Bank of Kazakhstan, Uzbekistan received 17.6 billion Kazakh tenge ($38.5 million) over the 1 month of 2023, which is 2.6 times more than in the same period last year (6.6 billion tenge or $14 million).

The recorded number accounts for 21.7 percent of the total transaction volume.

Russia and Türkiye ranked first among the top money recipients from Kazakhstan, accounting for 48 and 15 percent, respectively.

Meanwhile, during October 2023, Kazakhstan noted a decline in the volume of money transfers to foreign countries, registering a 3.8-percent decrease compared to September.

The trade turnover between Uzbekistan and Kazakhstan amounted to $2.19 billion from January through July of 2023, which comprises 7.5 percent of the total trade turnover of Uzbekistan.

Moreover, Uzbekistan exported goods worth $699.3 million to Kazakhstan, while imports amounted to $1.4 billion.

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