In the first six months of 2025, Kazakhstan experienced a significant outflow of money, with 321.2 billion tenge (about $590 million) transferred abroad through international money transfer systems, according to a report from the National Bank.
In contrast, only about $190 million was sent into Kazakhstan from overseas, highlighting a substantial net outflow of remittances. Much of the money leaving the country, economist Ruslan Sultanov explained, is sent by migrant workers earning wages in Kazakhstan.
Transfers from Kazakhstan
From January to June 2025, the number of money transfer transactions made abroad decreased to 805,000, representing a 16.3% year-on-year (YoY) decline, continuing a trend of shrinking overseas transfers.
The average transfer amount was roughly $730. Nearly all transactions (99.9%) were processed through the Russian Zolotaya Korona system. Most transfers were made in tenge (51.4%), followed by U.S. dollars (37.8%).
The top destinations for money sent from Kazakhstan were:
- Russia – 31.7% ($187 million).
- Uzbekistan – 19.9% ($175 million).
- Turkey – 13.2% ($107 million).
Transfers to Kazakhstan
During the same period, 304,900 international money transfers were sent to Kazakhstan. The total value of incoming transfers — approximately $195 million — decreased by 12.5% YoY, marking a continued decline and returning to levels last seen in the first half of 2016.
About 80% of incoming transfers were processed through Zolotaya Korona and Western Union. Most remittances were received in U.S. dollars (58.3%) and tenge (19%).
The main sources of transfers to Kazakhstan were:
- Russia – 24% ($46 million).
- U.S. – 13.2% ($30 million).
- Uzbekistan – 5.2% ($20 million).
Regional labor hub
Sultanov noted that thousands of foreign workers in Kazakhstan’s construction, service and trade sectors send earnings home.
He said Kazakhstan is becoming a Central Asian labor hub, with outward money flows to neighboring countries rising.
