Volume of private remittances down 5.7% to USD 0.9 billion in April

The volume of private remittances in April decreased by 5.7% and amounted to USD 0.9 billion.

This follows from a statement by the National Bank of Ukraine (NBU), the Ukrainian News agency reports.

Wages received by Ukrainians from abroad decreased by 15.5%, while other private remittances received through official channels increased by 12.0%.

In general, transfers through official channels were 2.3% less than in April last year, while the flow through informal channels decreased by 9.2% compared to April last year.

In total, from January to April 2024, the volume of remittances decreased by 8.0%: net wages decreased by 18.7%, while private transfers increased by 17.0%.

As the Ukrainian News agency earlier reported, the volume of private remittances in 2023 decreased by 7.8% compared to 2022 and amounted to USD 11.6 billion.

In 2021, the volume of remittances to Ukraine increased by 25.4% year over year to USD 15.026 billion.

In 2020, the volume of remittances increased by 1.7% to a record USD 12.1 billion.