Finances

VOLUME OF REMITTANCES TO MOLDOVA INCREASES BY 13%

25 august, 2020
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The volume of money transfers to Moldova in favor of individuals through banks from abroad amounted to US $ 794.95 million in January-July, which is by 13% more than at the same period of the last year.

As the data of the National Bank (NBM) show, transfers amounted to US $ 148.8 million in July, which is a record monthly figure for the recent years. Compared to July 2019, they increased by 29.5%.

The share of transfers from the EU was 45.3%, from the CIS - 16.4%, and 38.3% - from the rest of the world.

Among the states, more transfers came from Israel – US $ 27.8 million (18.7% share), from Russia – US $ 22.4 million (15.1%) and from Italy – US $ 21.5 million (14.5%).

The bulk of the transfers – US $ 124.9 million - came through international money transfer systems in July. Their structure was dominated by the euro with a share of 62.4% (+7.8 p.p.), US dollars - 36.2% (-5.6 p.p.) and Russian rubles - 1.4% (-3 , 2 pp).

In 2019, the net volume of money transfers to Moldova in favor of individuals through banks amounted to less than US $ 1.223 billion, which is 3.5% less than a year earlier. The historical maximum was registered in 2008, when the citizens of the Republic of Moldova transferred US $ 1.660 billion to their homeland.

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