In 2022, Moldova set a new record for the volume of money transfers from abroad in favor of individuals through banks, which exceeded $1.74 billion.
As InfoMarket was informed in the National Bank of Moldova, in particular, the volume of money transfers to Moldova through banks in favor of individuals in 2022 amounted to $1 billion 745.74 million, having increased, compared to 2021, by $133.91 million (+8 .3%). The previous record level of money transfers to Moldova from abroad in favor of individuals through commercial banks was recorded in 2008, when they amounted to $1 billion 660.09 million. According to the NBM, at the same time, in December 2022, the volume of the mentioned money transfers amounted to $153.26 million, exceeding the previous month’s indicators ($153.16 million) by 0.06%, and December 2021 indicators ($137.38 million) - by 11.5%. The largest monthly amount of money transfers in 2022 was in July - $171.7 million. According to the NBM, in the structure of transfers by currency from abroad in favor of individuals, transfers in euro in December 2022 amounted to 81.6% (+16.9 p.p. compared to December 2021), transfers in US dollars - 18.3% (-15.1 p.p.), transfers in Russian rubles - 0.1% (-1.8 p.p.). In particular, in December 2021, the share of the dollar in the structure of foreign currency transfers was 33.4%, the euro - 64.7%, the ruble - 1.9%. According to the NBM, the amounts of money transfers from abroad, carried out in favor of individuals in Moldova, are converted from the original transfer currency into US dollars at the official exchange rate of the NBM on the date of the money transfer. They include, in addition to transfers of Moldovan migrants, other money transfers: transfers of salaries to resident individuals from representative offices of non-residents (international financial institutions, international organizations, foreign economic agents) in Moldova, transfers in favor of foreign citizens temporarily staying on the territory of Moldova, social pensions, allowances, alimony. The NBM data does not include payments through banks from the left bank of the Nistru. As InfoMarket agency reported earlier, the volume of money transfers to Moldova through banks in favor of individuals in 2021 amounted to $1 billion 611.83 million, an increase of 8.4% (+$125.09 million) compared to 2020. According to World Bank, the remittances of Moldovan guest workers in different years amount to 15% to 30% of the country's GDP. //23.01.2023 — InfoMarket.
