Azerbaijan's remittances to Kazakhstan totaled $8.58 million in 2024

In 2024, the volume of remittances sent by individuals from Azerbaijan to Kazakhstan reached $8.58 million.

This figure represents an increase of $1.1 million, or 14.8%, compared to the same period in 2023. Kazakhstan's share of the total remittances from Azerbaijan was 1.6% in the reported year, Caliber.Az informs, citing the Central Bank of Azerbaijan (CBA).

On the other hand, remittances from Kazakhstan to Azerbaijan amounted to $23.07 million in 2024, showing a decrease of $7.51 million, or 24.6%, compared to 2023.

In 2023, the volume of remittances from Azerbaijan to Kazakhstan was $7.48 million, while remittances from Kazakhstan to Azerbaijan reached $30.58 million.

Overall, the total volume of remittances sent from Azerbaijan to foreign countries by individuals in 2024 amounted to $526.76 million, a decrease of $23.37 million, or 4.2%, compared to 2023.

In contrast, the volume of remittances received by Azerbaijan from abroad in 2024 was $1.08 billion, a decline of $571.94 million, or 34.6%, compared to the previous year.

By Vugar Khalilov