2024-09-04T19:34:00+03:00 Finance 2024-09-22T04:00:02+03:00

Ukrainian news

Volume of private remittances falls by record-high 13.2% to USD 0.8 billion in July

Volume of private remittances falls by record-high 13.2% to USD 0.8 billion in July

The volume of private remittances in July decreased by 13.2% and amounted to USD 0.8 billion.

This follows from a statement by the National Bank of Ukraine (NBU), the Ukrainian News agency reports.

Wages received by Ukrainians from abroad decreased by 16.1%, while other private remittances received through official channels increased by 1.2%.

In general, transfers through official channels were 7.5% less than in July last year, while the flow through informal channels decreased by 19.6% compared to July last year.

In total, from January to July 2024, the volume of remittances decreased by 14.1%: net wages decreased by 27.8%, while private transfers increased by 15.5%.

As the Ukrainian News agency earlier reported, the volume of private remittances in 2023 decreased by 7.8% compared to 2022 and amounted to USD 11.6 billion.

In 2021, the volume of remittances to Ukraine increased by 25.4% year over year to USD 15.026 billion.

In 2020, the volume of remittances increased by 1.7% to a record USD 12.1 billion.