Volume Of Private Remittances Down 14.7% To USD 1 Billion In April

In April, the volume of private money remittances decreased by 14.7% (compared to the same period last year) and amounted to USD 1 billion.

This is evidenced by the NBU data, Ukrainian News Agency reports.

It is noted that the volume of wages that Ukrainians receive from abroad decreased by 37.5%, the volume of other private transfers received through official channels decreased by 11.7%.

In general, 25.3% less transfers were sent through official channels than in April last year, while the flow through informal channels remained at the level of last year.

In just 4 months of this year, the volume of money transfers decreased by 10.5%, including net wages - by 11.2%, private transfers - by 8.7%.

As Ukrainian News Agency reported, in March, the volume of private money transfers to Ukraine decreased by 25.2% to USD 929 million.

In 2021, the volume of remittances to Ukraine increased by 25.4% to USD 15.026 billion compared to 2020 (USD 11.980 billion).

In 2020, remittances grew by 1.7% to a record-breaking USD 12.1 billion.

The National Bank predicted an increase in the volume of remittances from labor migrants by 8% to USD 13 billion in 2021 compared to 2020.

The current account surplus in March amounted to USD 1.4 billion (in March last year, the deficit was USD 790 million).