Volume of private money remittances down 4.6% to USD 936 million in October

In October, the volume of private money remittances decreased by 4.6% and amounted to USD 936 million.

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

Wages received by Ukrainians from abroad increased by 3.8%, while other private remittances received through official channels decreased by 19.5%.

In total, 9.3% fewer remittances were sent through official channels than in October last year, while the flow through informal channels slightly increased - by 1.1%.

In total, from January to October 2023, the volume of remittances decreased by 8.0%, including: net wages - by 9.8%, private remittances - by 4.2%.

As Ukrainian News Agency earlier reported, in September, the volume of private money remittances decreased by 8.7% and amounted to USD 943 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.