Money transfers increased by 6.1% y/y to US$ 295.5mn in Apr-25, after a 3.9% y/y growth in previous month. Among the top countries, money transfers increased from the EU (+14.2% y/y, 46.3% of total), the USA (+16.6% y/y, 18.3% of total), Israel (+11.4% y/y, 7.5% of total), Türkiye (+6.4% y/y, 2.9% of total) and Kyrgyzstan (+40.3% y/y, 2.6% of total) in April. In contrast, transfers reduced from Russia (-18.9% y/y, 13.5% of total) and Kazakhstan (-41.6% y/y, 2.4% of total)- Galt&Taggart weekly market watch reads.
Overall, in 4M25 money transfers declined by 0.8% y/y to US$ 1.1bn.
Galt&Taggart anticipates money transfers at US$ 3.4bn in 2025, revised upwards from the previous forecast of US$ 3.2bn.
