The National Bank of Ukraine (NBU) has estimated how much money has been sent by Ukrainian migrant workers home since the beginning of the year.
From January to June, private remittances via official and non-official channels to Ukraine totaled $5.365 billion in the equivalent; while those from Ukraine stood at $246 million in the equivalent, according to the NBU’s rough estimates disclosed by the NBU’s press service on Facebook.
Some $1.187 billion in the equivalent, or more than a fifth of all transfers, was wired to Ukraine via money remittance systems alone (not including transfers via bank accounts, credit cards or remittances handled by postal offices). This is 8% more than in the first half of 2019. The average amount of one transfer to Ukraine also slightly increased (by 5.4%), from $355 to $374. Some $212 million in the equivalent was wired outside Ukraine via money remittance systems., up by 26.2%. This popular method accounted for over four-fifths of all private transfers from Ukraine.
The average amount of one transfer from Ukraine also increased (by 29.1%), from $358 in the first half of 2019 to $462.
The channels of remittances have remained almost unchanged. Most of money transfers arrived from the United States, Italy, Israel, Russia and Germany. Most of remittances from Ukraine were wired to Russia, Georgia, Azerbaijan, Turkey and Poland.
The volume of transfers within Ukraine through money remittance systems also increased – to UAH 117.938 billion or $4.551 billion in the equivalent, up by 31.3%. (UNIAN/Business World Magazine)