In 2025, remittances to the Kyrgyz Republic reached a historic maximum over the past 20 years, totaling $3.5 billion, which accounts for 15.4% of the country's gross domestic product, according to the macroeconomic review of the Eurasian Development Bank (EDB).
The main factor for this growth was the remittances from Russia, which increased by 16.1%, amounting to about $2.99 billion. Analysts attribute the increase in remittance volumes to the strengthening of the Russian ruble against the dollar, which rose by 24% year-on-year by the end of 2025. At the same time, the som demonstrated high stability, weakening only by 0.5% against the dollar over the past year.
Additionally, remittances from the United States also showed significant growth, exceeding $100 million per year, indicating a diversification of migrants' income sources. As a result of the increase in remittance volumes, there is a positive impact on the real sector of the economy: in 2025, domestic trade growth reached 17.8% amid rising consumer demand.
The EDB forecasts that in 2026, remittances will continue to support the national currency. The average exchange rate of the som is expected to be 89.2 per US dollar, and the republic's economy will maintain its leadership in the region with a GDP growth rate of 9.3%.
