BAKU, Azerbaijan, July 5. During the April-May
2026 period, Uzbekistan reinforced its position as one of the
primary destinations for cross-border money transfers from
Kazakhstan, demonstrating notable growth in transaction
volumes.
According to the data from the National Bank of Kazakhstan, in
May 2026, Kazakhstan sent money transfers to Uzbekistan totaling
17.63 billion tenge (about $37.35 million), which is a 35.2%
increase compared to the April figures of 13.05 billion tenge
($27.65 million).
The number of transactions also showed significant momentum,
rising from 20.61 thousand in April to 23.50 thousand in May.
Consequently, Uzbekistan’s share in the total volume of money
transfers sent from Kazakhstan abroad increased: while it accounted
for 23.7% in April, this figure reached 32.9% in May.
Meanwhile, the influx of funds from Uzbekistan to Kazakhstan
displayed mixed dynamics. In May 2026, the volume of transfers
received from Uzbekistan amounted to 1.25 billion tenge ($2.65
million), which is slightly lower than the April figure of 1.64
billion tenge ($3.47 million). The number of transactions from
Uzbekistan also decreased from 2.15 thousand in April to 1.68
thousand in May, and the country's share in the total volume of
inbound transfers to Kazakhstan declined from 10.1% to 8.3%.
The rise in outbound transfers to Uzbekistan, occurring against
the backdrop of an overall market slowdown, indicates deepening
economic ties and the intensification of private financial flows
between the republics, whereas inbound flows to Kazakhstan are
characterized by more moderate indicators
