655.2bln tenge sent by Kazakh residents abroad via money transfer systems in 2019
Russia and Uzbekistan account for more than half of all funds sent by Kazakhs abroad via money transfer systems, Ranking.kz reports.
2019 saw a total of 655.2 billion tenge sent by Kazakhs abroad by the means of money transfer systems, an 8.9% rise compared with 2018.
There was a 1.7% decline in transactions to 2.6 million, resulting in an increased average paycheck per transfer from 224.9 thousand to 249.1 thousand tenge.
Russia made up 208.8 billion tenge of the total amount of money sent abroad, 10.6% down than a year earlier.
Uzbekistan is second with 139.2 billion tenge as there was a rapid yearly growth of 24.7%.
Turkey rounded off the top three: 93.4 billion tenge, 32.8% up than in 2018.
As for money transfer systems, Zolotaya Korona is an absolute leader with 480.8 billion tenge being sent via the system. Over the year, it saw a 20.6% increase. So the system represents 73.4% of the total international money transfers.
Western Union (75.4 billion tenge) and Contact (24.9 billion tenge) are second and third.
