OREANDA-NEWS. March 18, 2009. In January 2009, amount of the remittances to Moldova from the individuals from abroad totaled US64,89 million, decreasing by 27,7% as compared with January 2008.

According to the National Bank of Moldova, about US 51.12 million or 78.8% of the total remittances in January 2009 were sent through the fast money transfer systems. In January 2008, this rate made US 71.50 million or 79.7%.

As it was informed before, in 2008 the volume of remittances to Moldova from individuals from abroad through commercial banks amounted to US 1 billion 660.06 million, increasing by 36,3% as compared to the previous year. In 2008, the largest amount of remittances to Moldova was transferred in the III quarter - US 506.51 million. Remittances in the I quarter totaled \\$ 320.67 million, in the II quarter - US 435.18 million, in the IV - US 397,7 million.

The largest amount of remittances was registered in July - US 180.79 million and August - US 166.33 million and the least- in January - US 89.72 million. Remittances from Moldovan labor migrants have steadily increased till July 2008, but since August, due to the global financial crisis, the volume of remittances from Moldovan guest workers has been gradually declining in comparison with the previous months.

Thus, in August remittances reached US 166.33 million, in September - US 159.39 million, in October - US 141.28 million, in November - US 112.76 million, and only in December, their amount has exceeded the previous months, reaching US 143.66 million. 

Due to the positive dynamics of remittances in the first half of 2008, in 2008, the growth of remittances as compared to the previous year by 36,3% was registered. The largest amounts of remittances were sent from Russia and Italy. According to the World Bank, the remittances of Moldovan guest workers make up about one-third of the country's GDP.