Ukrainians reduce money transfers to Ukraine for 2 years in a row

The volume of private money transfers decreased by 15.6% and amounted to USD 0.7 billion.

This is stated in the NBU report, Ukrainian News Agency reports.

The wages that Ukrainians receive from abroad decreased by 13.8%, and other private transfers received through official channels decreased by 13.1%.

In general, 13.4% fewer transfers were sent through official channels than in March 2024, while the flow through informal channels decreased by 18.6% compared to March last year.

In total, for the first quarter of this year, the volume of money transfers decreased by 17.7%: net wages decreased by 20%, and private transfers decreased by 14.8%.

As Ukrainian News Agency earlier reported, the volume of private remittances in 2024 decreased by 15.2% and amounted to USD 9.6 billion.

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% to USD 15.026 billion compared to 2020.

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