Remittances to Ukraine continue to decline, in July they decreased by 6.6% to USD 0.7 billion

The volume of private remittances in July decreased by 6.6% and amounted to USD 0.7 billion.

This is evidenced by data from the National Bank of Ukraine, Ukrainian News Agency reports.

Wages received by Ukrainians from abroad decreased by 8.1%, while other private remittances received through official channels increased by 5.3%.

In general, 0.9% fewer remittances were sent through official channels than in July 2024, while the flow through informal channels decreased by 14.3% compared to July last year.

In total, for January-July of this year, the volume of remittances decreased by 13.0% and amounted to USD 4.9 billion: net wages decreased by 17.3%, and private transfers decreased by 7.3%.

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

In 2023, the volume of private remittances 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-breaking USD 12.1 billion.