The information agency “Fergana” with reference to the Central Bank of Russia reports that the volume of money transfers from Russia to Turkmenistan in 2017 amounted to $1,6 million.
As regards other countries in the region, in 2017 Uzbekistan ranked first in the volume of money transfers from the Russian Federation $3,9 billion, followed by Tajikistan $2,5 billion, Kyrgyzstan— $2,21 billion and Kazakhstan $709 million.
According to the news outlet, in the first quarter of 2018 individuals transferred five times less cash from Russia to Turkmenistan compared to a similar period in 2017.
According to the Central Bank of Russia, in January-April 2018 some $ 0,2 mln was transferred from Russia to Turkmenistan compared to $1 mln for the period of January-April 2017.
The average transfer amount has reduced from $380 to $278.Another statistics resource of Russia’s Central Bank reports that the amount of cash transfers from Turkmenistan in the first quarter of 2018 totals 0 (for the first quarter of 2017 $0,95 mln).
The amount of outgoing transfers from Turkmenistan to Russia is much higher, although it ranks at the bottom among Central Asia and the CIS countries.In the first quarter of 2018 individuals transferred $7 million from Russia to Turkmenistan whereas in the first quarter of 2017 $18 mln.
Thus, the amount of transfers over the past year has decreased by approximately 2.5 times.
It should be emphasized that Turkey accounts for the main bulk of migrant workers from Turkmenistan who, unlike Russian nationals, do not need an entry visa.However, there are unofficial travel restrictions for the exit of Turkmen nationals outside the country.
Let us recall that in 2017 some 74 thousand Turkmenistan nationals obtained residence registration in Russia whereas 729 residents were granted Russian citizenship.