Moldova ranks 3rd among the countries of Europe and Central Asia in terms of remittances from abroad into the country’s GDP, with an indicator of 16.1%

Moldova ranks 3rd among the countries of Europe and Central Asia in terms of remittances from abroad into the country’s GDP, with an indicator of 16.1%

Such data was presented by the World Bank in its new study, Migration and Remittances. According to the document, among the countries of Europe and Central Asia, the largest share of remittances from abroad into a country’s GDP accounts for Kyrgyzstan and Tajikistan - 33.6% and 31%, respectively. Moldova ranks 3rd with an indicator of 16.1%. The top 10 also include: Kosovo - 15.8%, Georgia - 12.2%, Armenia - 12.1%, Ukraine - 11.4%, Montenegro - 11.4%, Bosnia and Herzegovina - 11%, Albania - 9.6%. At the same time, as a whole in terms of the volume of remittances from abroad among the countries of Europe and Central Asia in 2018 the following countries are leading: Ukraine - $14.4 billion, Russia - $8.6 billion, Poland - $7.4 billion, Romania - $5.2 billion, Serbia - $4.3 billion Uzbekistan - $3.9 billion, Kyrgyzstan - $2.7 billion, Bulgaria - $2.4 billion, Tajikistan - $2.3 billion, Bosnia and Herzegovina - $2.2 billion. It should be noted that among all countries of the world, the largest amount of remittances from abroad accounted for India - $78.6 billion, China - $67.4 billion, Mexico - $35.7 billion, Philippines - $33.8 billion, Egypt - $28.9 billion per month. However, Tonga is the leader in terms of the share of these transfers in GDP: 35.2%; it is followed by Kyrgyzstan - 33.6%, Tajikistan - 31%, Haiti - 30.7%, Nepal - 28%. As InfoMarket agency reported earlier, the volume of remittances to Moldova through banks in favor of individuals in 2018 amounted to $1 billion 266.84 million, increasing by 5.6% (+ $66.87 million), compared with 2017. Absolute record in terms of remittances to Moldova from abroad in favor of individuals through commercial banks was registered in 2008 - $1 billion 660.09 million. // 11.04.2019 - InfoMarket.

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