Volume of private money remittances down 8.7% to USD 943 million in September

In September, the volume of private money remittances decreased by 8.7% and amounted to USD 943 million.

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

Wages received by Ukrainians from abroad decreased by 8.7%, while other private remittances received through official channels decreased by 18.4%.

In total, 13.9% fewer remittances were sent through official channels than in September last year, while the flow through informal channels slightly decreased - by 2.2%.

In total, from January to September 2023, the volume of remittances decreased by 8.3%, including: net wages - by 7.5%, private remittances - by 10.1%.

As Ukrainian News Agency earlier reported, in August, the volume of private money remittances decreased by 6.9% and amounted to USD 951 million.

In 2021, the volume of money 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.