Remittances Grew 2,7% in Moldova
OREANDA-NEWS. October 10, 2012. As the National Bank of Moldova informs, this July the remittances amounted to USD 143.59 mln., USD 4.89 up against USD 138.7 mln. or 3.5% recorded last August.
The sum of remittances transferred in August turned out to be the largest since the beginning of the year. And exceeded that of July by USD 0.2 mln. Remittances via rapid money transfer systems made up USD 830.21 mln. in January-August 2012, or 88/5% of the total sum of the remittances in this period, against USD 792.93 mln. or 86.8% recorded in the same period of the last year.
In the structure of remittances in forex about 39% fell to USD, 35.9% to EUR and 25.1% to RUB in August, 2012. According to the National Bank of Moldova, in 2011 remittances from aboard in favor 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 in Moldova come from Russia and Italy. According to the World Bank, remittances from Moldova’s labor migrants amount to 20% to 30% of GDP of Moldova. The all-time peak of the volume of money transfers to Moldova made in favor 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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