The NBU discloses the scale of money transfers for the first time: business leads in terms of volume, individuals – in terms of number
18 October 2024 16:33
The National Bank of Ukraine has taken an unprecedented step towards financial transparency by publishing detailed statistics on remittances in the country for the first time, reports "Komersant Ukrainian"
According to the NBU, in the first half of 2024, 1.848 billion credit transfer transactions worth almost UAH 20.166 trillion were carried out within Ukraine. Interestingly, while individuals made the vast majority of these transactions (86.78%), businesses dominated the amount of transfers, accounting for 89.57% of the total.
International transfers also showed interesting dynamics. Ukraine received 2.52 million remittances worth USD 33.89 billion, with more than half of these transfers (55.41%) received by individuals. However, the business sector is the leader in terms of the amount, having received 94.16% of the total amount of remittances from abroad.
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The geography of international remittances reveals Ukraine’s strong economic ties with the European Union, which received 44.95% of all funds. Switzerland and the United States also proved to be important financial partners, accounting for 21.22% and 11.79% of the remittances, respectively.
In terms of remittances from Ukraine abroad, the dominance of business is even more evident, accounting for 99.8% of the total of USD 35.09 billion. The main destinations for these transfers were the EU (60.51%), Switzerland (10.33%) and China (5.06%).
As reported by 
, the National Bank recently simplified foreign exchange transactions for Ukrainian businesses, but complicated transactions abroad.
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