Moldova ranks 6th among countries in Europe and Central Asia in terms of the share of remittances to the country from abroad in GDP with an indicator of 11.8%.
At the same time, it was not included in the TOP 10 countries in Europe and Central Asia in terms of the volume of remittances received into the country from abroad at the end of 2023. This is evidenced by 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 to the country from abroad is in Tajikistan, Kyrgyzstan, Kosovo, Uzbekistan, Georgia - 39.1%, 22.3%, 17.6%, 15.3% and 13.8%, respectively. Moldova ranks 6th with 11.8%. The top 10 for this indicator also includes: Montenegro – 10.9%, Bosnia and Herzegovina – 10.4%, Albania – 9% and Ukraine – 8.5%. At the same time, as follows from the World Bank data, in general, in terms of the volume of remittances to the country from abroad, among the countries of Europe and Central Asia at the end of 2023, the leaders were: Ukraine - $15.1 billion, Uzbekistan - $13.9 billion, Russia – $5.8 billion, Serbia – $5.8 billion, Tajikistan – $4.6 billion, Georgia – $4.2 billion, Kyrgyzstan – $2.9 billion, Bosnia and Herzegovina – $2.8 billion, Bulgaria – $2.5 billion, Albania - $2 billion. It should be noted that among all countries in the world in terms of the volume of remittances to the country from abroad in 2023, according to the World Bank, the leaders were: India - $120 billion, Mexico - $66 billion, China - $50 billion, Philippines - $39 billion, Pakistan - $27 billion, Bangladesh - $22 billion, Guatemala - $20 billion, Nigeria - $20 billion, Egypt - $20 billion, Ukraine - $15.1 billion. At the same time, according to the share of these transfers in GDP in the world at the end of 2023, the leaders were: Tonga - 41%, Tajikistan - 39.1%, Lebanon -31%, Samoa - 28%, Nicaragua - 27%, Nepal - 26%, Honduras - 26%, El Salvador - 24%, Gambia - 23%, Kyrgyzstan -22.3%. As previously reported by InfoMarket agency, according to the National Bank of Moldova, the volume of money transfers to Moldova from abroad in favor of individuals through banks in 2023 amounted to $1 billion 627.75 million, down by $117.99 million (-6.7%), compared to 2022. The absolute record for the volume of money transfers from abroad in favor of individuals through banks was in 2022, when this figure amounted to $1 billion 745.74 million, up by $133.91 million (+8.3%), compared to 2021. Data from the National Bank of Moldova and other countries on the volume of remittances may vary due to whether one party or another takes into account information on transfers to Transnistria, etc. // 28.06.2024 — InfoMarket
