Transfers to Ukraine are already at last year’s level

In January-October, the volume of transfers amounted to $ 9,555 million, only 2.3% less than a year earlier.

The volume of private money transfers to Ukraine from abroad in October 2020 amounted to $ 1,063 million. This is only $ 11 million less than the previous year ($ 1,074 million). This is evidenced by the data on the Banco Nacional website on Monday, December 1.

At the same time, in January-October the volume of transfers amounted to $ 9,555 million, 2.3% ($ 220 million) less than a year before ($ 9,775 million).

The NBU took into account in its statistics the official and unofficial channels for receiving money in Ukraine. In January-October 2020, $ 3,561 million was transferred to Ukraine through informal channels, $ 1,285 million less than in the same period of the previous year ($ 4,846 million).

Infographic: NBU

As reported, in the first half of 2020, migrant worker remittances to Ukraine began to fall with the onset of the coronavirus crisis. But at the end of June, the volume of remittances from abroad began to grow.

Ukraine remained the largest recipient of remittances in Europe and Central Asia in 2019, according to the World Bank, reaching a new all-time high of $ 15.8 billion.

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