Remittances to Moldova Grew 2.1% in 6M
OREANDA-NEWS. August 15, 2012. As the National Bank of Moldova informs, this June the remittances amounted to USD 122.95 mln., USD 9.89 down against USD 132.84 mln. or 7.4% recorded last June.
In Q2, 2012 they made up USD 361.7 mln., USD 2,32 mln. (0,6%) down as compared with USD 364,02 mln. registered in Q2, 2011. The greatest monthly sum of remittances of 2012 fell to May and made up USD 128.94 mln, with the least sum falling to January and being USD 81.7 mln.
Remittances via rapid money transfer systems made up USD 572.15 mln. in January-June, 2012, against USD 548.77 mln. or 87.9% recorded in the same period of the last year. Following Q2, 2012, in the structure of remittances in forex about 39.3% fell to USD, 37.9% to EUR and 22.8% to RUB. Following Q2, 2011, those indicators were 41.6%, 43.4% and 15% respectively.
According to the National Bank of Moldova, in 2011 remittances from aboard in favour of individuals made via banks amounted to USD 1 bln. 443.47 mln., 16% or USD 199,33 mln. up within the year. The biggest receipts come in Moldova from Russia and Italy.
According to the World Bank, remittances from Moldova’s labour migrants amount to 20% to 30% of GDP of Moldova. The all-time peak of the volume of money transfers to Moldova made in favour of individuals via commercial banks was recorded in 2008 when the sum amounted to \\$1 bln. 660.09 mln. within the year.
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