OREANDA-NEWS. May 13, 2009. In 2008, the volume of remittances from Russia to Moldova as compared to 2007 has increased by US308 million (38.2%) - up to US 1 billion 114 million.

According to the Central Bank of Russia, in 2007 the volume of remittances sent through various banking money transfer systems and "Mail of Russia", amounted to US 806 million. Average amount of one transfer has increased by 10,3% - from USD 621 in 2007 up to USD 685 in 2008.

In general, Moldova took the sixth place among CIS countries on the volume of remittances from Russia in 2008. According to the Central Bank of Russia, in 2008 the main recipients of remittances from Russia were: Uzbekistan (US 2 billion 978 million), Tajikistan (US 2 billion 516 million), Ukraine (US 1 billion 690 million), Armenia (US 1 billion 249 million), Kyrgyzstan (US 1 billion 157 million). Armenia has the largest average amount of transfer received- US 919.

As it was informed before, in 2008 the amount of remittances to Moldova from individuals through commercial banks had reached US 1 billion 660 billion, increasing by 36.3% as compared with the previous year. The largest amount of remittances to Moldova was 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.