BISHKEK: Kyrgyzstan has witnessed a notable rise in the number of remittances in euros during the second quarter of 2024, with 16,000 transactions totaling 7.1 million euros, reflecting a robust growth in economic transactions with European countries.

According to Trend News Agency, data from the National Bank of Kyrgyzstan indicates a 10.3 percent increase in the number of remittances compared to the same period in the previous year. The overall volume of these transactions grew by 24.6 percent. This growth in euro transactions highlights an expanding economic interaction between Kyrgyzstan and the eurozone.

The data also provided insights into outgoing transfers, which amounted to 400 transactions worth 400,000 euros. While the number of these transactions remained stable compared to the previous year, the volume of funds sent increased significantly, by 1.3 times.

Furthermore, the overall dynamics of international money transfers into Kyrgyzstan also showed interesting trends. The total number of incomi
ng transfers through international systems was recorded at 1.661 million transactions worth 50.7 billion som ($598.5 million). Despite a slight decrease of 2.9 percent in the number of transactions, the overall volume saw a substantial increase of 21.6 percent from the previous year.

These figures indicate a strengthening of Kyrgyzstan’s financial connections with international partners, particularly in the context of remittances which play a vital role in the country’s economy.