OREANDA-NEWS. October 19, 2009. As compared with the same period of 2008, it has declined by US 371.2 million, or 33.6%. According to the National Bank of Moldova, US 602.66 million, or 82.4% of the total transfers in this period were sent through the fast money transfer systems.

Transfers in August totaled US 103.67 million, decreasing by 1,6 times as compared to the same period of the last year (US 166.33 million). 56% of all remittances accounted for USD, 38,3% - for euro and 5,8% - for the Russian ruble. The largest amount has been transferred in July 2009 - US113.36 million and the lowest - in January 2009 - US 64.3 million.

Remittances in I quarter of 2009 totaled US 225,71 million, in II quarter- US 289,06 million. As it was informed before, in 2008 the remittances sent to Moldova from individuals from abroad through the commercial banks amounted to US1 billion 660.06 million, increasing by 36.3 % as compared to the same period of the last year. Remittances from the Moldovan labor migrants has steadily increased till July 2008, but since August in connection with the global financial crisis have started to decline.

The largest amounts were transferred from Russia and Italy. According to the World Bank, remittances of Moldovan guest workers make up about one third of the country’s GDP.