Volume Of Private Remittances Down 1.2% To USD 1.2 Billion In July

In July, the volume of private money remittances decreased by 1.2% (compared to the same period last year) and amounted to USD 1.2 billion.

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

"Private remittances decreased by 1.2% and amounted to USD 1.2 billion. The salary that Ukrainians receive from abroad decreased by 25.5%, other private transfers received through official channels decreased by 14.9%," the NBU reports.

In general, 19.9% less transfers were sent through official channels than in July last year, while the flow through informal channels increased by 25.7% year over year.

Over the seven months of this year, the volume of money transfers decreased by 5.7%, including net wages - by 3.9%, private transfers - by 9.8%.

As Ukrainian News Agency reported, 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.

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