Why Are Remittances Lower Even Though There Are More Ukrainians Abroad? The 2025 Paradox
28 January 19:09
РОЗБІР ВІД 
The situation regarding remittances from abroad continues to deteriorate. Here are the key figures for November 2025 and the overall picture for the first 11 months. Ukrainians living abroad have significantly reduced the amount of money they send home, particularly their earnings from employment. "Komersant Ukrainian" examined just how serious a problem this is for Ukraine
According to the NBU, in November 2025, the volume of private money transfers decreased by 8.9% to $0.6 billion. Wages received by Ukrainians from abroad fell by 29.0%, while other private remittances—such as financial assistance to relatives remaining in Ukraine—sent through official channels increased by 9.9%. Overall, inflows through official channels decreased by 7.7%, while the flow through informal channels decreased by 10.7% compared to November of last year.
In total, from January through November 2025, the volume of remittances decreased by 15.5% and amounted to $7.3 billion. This is one of the worst figures in recent years of the war.
According to the NBU, the largest amounts of money received over the past year came from: Poland – $3.292 billion, the U.S. – $1.133 billion, the U.K. – $833 million, the Czech Republic – $704 million, Germany – $628 million, Israel – $453 million, Italy – $172 million, Ireland – $172 million, the Netherlands – $116 million, Greece – $106 million, and the UAE – $86 million.
From 2018 to 2020, remittances to Ukraine from abroad ranged from $11.1 billion to $11.9 billion.
In 2021, the volume of remittances to Ukraine rose again—to $14.019 billion.
But 2022 set a record for remittances—$12.543 billion was transferred to Ukraine
In 2023, the figure was $11.292 billion, and in 2024, it was $9.464 billion. And last year looks the worst, with only about $8 billion sent to Ukraine from abroad.
Those who left no longer help those who stayed
Remittances from migrant workers have been declining, are declining, and will continue to decline. This is because labor migration from Ukraine has effectively ceased; more than 65–70% of those who went to work abroad before the start of hostilities were men, who are now prohibited from leaving the country, as emphasized in a comment
“We cannot say now that labor migration in our country has remained at the same level as before. Women, children, and men who have the opportunity are leaving the country, so the need to send money directly to Ukraine is decreasing, as the people to whom it was previously sent are no longer there. Moreover, women and children are joining the men who left and worked abroad before the war, and thus the inflow of funds into the country is falling,” notes Vasyl Voskoboynik.
The situation will not change until the end of hostilities, but as soon as martial law ends and the borders are opened, there will be another wave of labor migration and family reunification.
“We hope that families will reunite in Ukraine, though the opposite may happen. And under an optimistic scenario, remittances from migrant workers abroad will increase slightly. But if families reunite abroad, then the number of people receiving money transfers will decrease,” the expert emphasizes.
Little Money, Many Problems
Economic analysts note several other factors that directly influenced remittances to Ukraine. In 2022, there was indeed a sharp increase in money inflows into the country from abroad, with the volume rising to ~$13–14 billion, but this was emergency humanitarian aid from the diaspora and volunteers for the Armed Forces of Ukraine, for refugees, and for the reconstruction of destroyed areas—not traditional labor remittances. But that aid quickly dried up. And today, the flow of money from abroad has changed dramatically.
First, the situation in the European labor market has worsened: high inflation and an economic slowdown. Migrants have less disposable income to send home.
“After all, many of those who left at the start of the war have already settled in their new homes and are spending money on living expenses there rather than on remittances to Ukraine. But Ukrainians abroad are also earning less and, consequently, sending less money home. Their income has fallen by 27.9% ($3.1 billion) over the past year,” notes
financial analyst Ivan Sklyar. "Komersant Ukrainian"
Second, the relocation of IT specialists abroad. Due to the risk of power and internet outages in Ukraine, as well as mobilization, foreign clients are demanding that contractors move to a more stable country to ensure project completion.
“As a result, payments to Ukrainian IT workers are no longer considered remittances to Ukraine, which reduces the overall volume,” the financial analyst notes.
However, the lack of heat, electricity, and other difficulties Ukrainians have recently faced are pushing citizens to leave the country, experts note.
According to the Center for Economic Strategy (CES), the number of Ukrainians who left Ukraine in 2025 exceeded the number of those who returned by 303,000 people—this is 34% less than in 2024, when this figure stood at 459,000. But this winter could change everything, as more than half a million people have already left Kyiv alone, according to the city’s mayor.
Author: Alla Dunina
