Remittances from labour migrants fell to $11.6bn a year
12 March 2024 13:16
In 2023, about $11.6 billion (in equivalent) was transferred to Ukraine from around the world, including transfers through both official channels (banks, international money transfer systems, post offices) and unofficial channels – by transferring money from hand to hand. This was reported by the press service of the National Bank, according to Kommersant Ukrainian 
In 2023, USD 2.6 billion was transferred to Ukraine using “money transfer” payment systems (created by both residents and non-residents). USD equivalent. This is 17% less than in 2021. The average amount of one such cross-border transfer to Ukraine was USD 255. THE AVERAGE AMOUNT OF ONE SUCH CROSS-BORDER TRANSFER TO UKRAINE WAS USD 255.
Last year, the largest volumes of funds came to Ukraine through the “money transfer” payment systems from the following countries:
- USA (18%),
- Israel (17%),
- Italy (15%),
- Germany (9%)
- Ireland (5%).
The leaders in terms of the amount of remittances to Ukraine were the following “money transfer” payment systems:
- Western Union (US-based payment organisation) – 43.2% of all transfers;
- MoneyGram (US-based payment organisation) – 21.7% of all transfers;
- PrivatMoney (payment organisation – JSC CB PrivatBank) – 17.9% of all transfers.
The NBU noted that money transfer payment systems have become an important channel for the payment of humanitarian aid to Ukrainians from a number of international organisations.
