Moldova ranks 4th among the countries of Europe and Central Asia in terms of the share of remittances from abroad in GDP with an indicator of 16.3%.
Moldova also entered the TOP-10 countries of Europe and Central Asia in terms of the volume of remittances received from abroad as of the end of 2020. These are the data presented by the World Bank in its new report on migration and development (Migration and Development Brief). According to the published document, among the countries of Europe and Central Asia, the largest share in GDP of remittances from abroad is in Kyrgyzstan, Tajikistan and Kosovo, accounting for 29.4%, 27.3% and 18.4%, respectively. Moldova ranks 4th with 16.3%. The top 10 by this indicator also includes: Georgia - 13.4%, Montenegro - 12.5%, Uzbekistan - 12.1%, Armenia - 10.8%, Ukraine - 9.9% and Albania - 9. 7%. At the same time, as follows from the WB data, in general, in terms of the volume of remittances to the country from abroad, among the states of Europe and Central Asia as of the end of 2020, the leaders were: Ukraine - $15.1 billion, Russia - $9.8 billion, Uzbekistan - $7 billion, Serbia - $3.9 billion, Kyrgyzstan - $2.2 billion, Tajikistan - $2.2 billion, Georgia - $2.1 billion, Moldova - $1.9 billion, Bosnia and Herzegovina - $1.8 billion, Albania - $1.5 billion. It should be noted that among all countries of the world, the largest volume of remittances from abroad in 2020, according to the World Bank, were registered in India - $83.1 billion, China - $60 billion, Mexico - $43 billion, Philippines - $35 billion, Egypt - $30 billion, Pakistan - $26.1 billion, Bangladesh - $22 billion, Nigeria - $17 billion, Vietnam - $17.2 billion, Ukraine - $15.1 billion. At the same time, in terms of the share of these transfers in GDP, the leaders in the world are: Tonga - 38%, Lebanon - 33%, Kyrgyzstan - 29.4%, Tajikistan - 27.3%, El Salvador - 24%, Honduras - 24%, Nepal - 24%, Haiti 22%, Jamaica 21%, and Lesotho 21%. As InfoMarket agency reported earlier, according to the National Bank of Moldova, in general, the volume of money transfers to Moldova from abroad in favor of individuals through banks in 2020 amounted to $1 billion 486.74 million, up 21.6% (+ $263.85 million), compared to 2019 (1 billion 222.89 million). The data of the central banks of Moldova and other countries on the volume of remittances may differ due to the accounting or non-accounting by one or another party of information on transfers to Transnistria, etc. According to the latest macroeconomic forecasts of the Ministry of Economy and Infrastructure, real GDP growth in Moldova in 2021 will be 6%, in 2022 - 4.2%, and in the next 2 years - 4% each. It is expected that in nominal terms, the volume of GDP in 2021 will amount to 227.7 billion lei, in 2022 - 248.8 billion lei, in 2023 - 271.3 billion lei, in 2024 - 292.8 billion lei. // 13.05.2021 – InfoMarket
