During the specified period, the inflow amounted to $3.22 billion, exceeding the previous record of 2022 ($3.09 billion), which was caused by geopolitical upheavals.
Considering the expected substantial flow in December, the annual volume could reach around $3.5 billion, representing an increase of approximately 15-20% compared to 2024.
Russia's Influence on Transfers
Russia remains the main source of transfers, but there is a change in their structure.
2022 Shock: The significant increase in transfers to $3.09 billion was associated with the start of the special military operation, as well as the relocation of capital and people.
2023-2024: There was a decline to $2.7 billion in 2023, but then growth began.
Structural Changes: Despite Russia's dominance, the share of transfers from other countries is increasing, indicating a process of diversification.
Rapid Growth of Transfers from the USA
Money transfers from the United States demonstrate impressive dynamics and are becoming a significant factor in economic stability.
Multiple Increases: Since 2020, the volume of transfers from the USA has grown more than three times — from approximately $26 million to about $95 million over the 11 months of 2025.
Seasonal Fluctuations
Analysis of monthly dynamics of transfers indicates clear seasonal fluctuations:
Minimum Values: January and February (a period of traditional lull).
Maximum Values: July-October (seasonal work) and December (holiday transfers).
Exception: In 2022, peaks were shifted due to political events (March-June).
The economy of Kyrgyzstan continues to have a high dependence on money transfers, but this flow is becoming increasingly powerful and diverse. The record of 2025 highlights the high ability of migrants and businesses to adapt to changing conditions.
