Money Transfer Volume Between Azerbaijan and Kazakhstan Revealed
In April 2024, over 1,570 transactions were conducted from Kazakhstan to Azerbaijan through international money transfer systems (IMTS), according to a report from the National Bank of Kazakhstan.
The total value of these transactions reached 994.9 million tenge (approximately 2.23 million US dollars). Azerbaijan’s portion of both the number and volume of remittances from Kazakhstan in April accounted for 0.8 and 1.5 percent, respectively.
Conversely, around 550 transactions were initiated from Azerbaijan to Kazakhstan during the same period, totaling 390.8 million tenge (approximately $878 thousand). Azerbaijan’s share in the number and volume of transactions was 0.7 and 1.9 percent, respectively.
It’s worth noting that in April 2023, the volume of money transfers to/from Kazakhstan through SMPD amounted to 209,400 transactions worth 67.8 billion tenge (approximately $152.1 million).
Compared to March 2024, there was a 6.7 percent increase in the number of remittances and a 12.2 percent increase in the volume of transactions.
