In August, volume of private remittances down 5.5% to USD 0.7 billion

The volume of private remittances in August decreased by 5.5% 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 8.9%, and other private transfers received through official channels increased by 8.7%.

In general, receipts through official channels were at the level of August 2024, while the flow through informal channels decreased by 13.8% compared to August last year.

In total, for January-August of this year, the volume of remittances decreased by 12.1% and amounted to USD 5.7 billion: net wages decreased by 17.7%, and private transfers decreased by 5%.

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 USD 12.1 billion.