Incoming remittances increased by more than 40% in January-May of the year

06/21/21 18:36

Incoming remittances increased by more than 40% in January-May of the year

Russia occupies a central place in the structure of both incoming and outgoing remittances

Tiraspol, June 21. /Novosti Pridnestrovya/. The Pridnestrovian Republican Bank published data on cash remittances in May. The expected seasonal decline in remittances after a period of pre-Easter growth has been confirmed. In total, $ 11.71 million was transferred from abroad through international money transfer systems to individuals in May. This is $ 1.12 million, or 8.7%, less than the April value, but at the same time, $ 2.16 million (22.6%) more than in the same period a year ago.

In total, in January-May of the year, incoming remittances reached $ 57.74 million, expanding to last year's indicator by $ 16.91 million (41.4%).

The main flow of cash remittances came from the CIS countries - 56.9%, or $ 6.66 million. Revenues from the European Union countries amounted to 24%, or $ 2.81 million, the rest of the world accounted for 19.1%, or $ 2.24 million.

The lion's share of transfers (88.7%) traditionally fell to the top ten countries. The unchallenged leadership belongs to the Russian Federation, from where 52.1% of all transfers were received in the reporting period, followed by Israel, Germany, USA, Italy, Poland, Ukraine, Czech Republic, Great Britain and France by a significant margin. The list of ordering countries decreased by 14 countries and expanded by 19 new directions in comparison with the same period last year. Among those who left this list are Qatar, Bosnia and Herzegovina, Uruguay, etc. Argentina, Taiwan, Indonesia, etc. are among those included in it.

Cash remittances from individuals in favor of foreign acceptors amounted to $ 2.47 million in May. This is $ 0.71 million (22.2%) less than the April value, but at the same time, $ 59.23 thousand (2.5%) exceeds the comparable figure for the previous year. In total, in January-May, the volume of remittances made outside the republic was estimated at $ 14.28 million against $ 12.44 million a year earlier (+1.84 million dollars, or + 14.8%).

According to the geographical distribution, the bulk of personal remittances was directed to the CIS countries recipients - $ 2.05 million, or 82.9% of all remittances.

Transfers to the countries of the European Union amounted to $ 0.12 million (4.9%), to the rest of the world - $ 0.3 million (12.3%). 

The main directions in the outgoing cash flow are the Russian Federation (45.7% of the total volume of personal transfers were transferred in May) and Ukraine (32.4%, or 0.8 million dollars). Turkey, Moldova, Uzbekistan, Israel, Germany, USA, Argentina and Belarus are also among the top ten destination countries.

The geography of remittances sent outside the republic has expanded: 16 countries have been added to the general list of recipient countries (Argentina, Korea, Macedonia, etc.), and 12 countries have left it (Senegal, Vietnam, Cameroon, etc.).

As a result of all the transactions carried out, the volume of private transfers received in the republic in May was 4.7 times higher than the outgoing cash flow (a year earlier, the specified ratio was 4).


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