OREANDA-NEWS. May 08, 2014. In March 2914 they amounted to USD 123.17 million, up USD 5.29 million or 4.5% against USD 117.88 million reported for March 2013.

The structure of the forex remittances included the shares of EUR, RUB and USD equal to 37.8%, 34.6% and 27.6% respectively. Last year they were 38.5%, 27.2% and 34.3% respectively. In January-March 2014, about USD271.46 million or 86.4% of the remittances were transferred to Moldova through various rapid money transfer systems.

According to the National Bank of Moldova, the remittances senders and recipients are not only citizens of Moldova and an origin and a purpose of the remittances may vary. The data provided by NBM includes the remittances sent via banks of RM excluding banks located on the left bank of the Dniester. In 2013 remittances sent from aboard to Moldova in favour of individuals via commercial banks grew 7.7% to USD 1 billion 608.98 million.

The greatest amount of the money was transferred to Moldova in October and made up USD 158.14 million, the smallest being attributable to January and amounting to USD 98.95 million. In 2013 the RUB remittances made up 33.6% of the total amount, USD and EUR making 31.3% and 35.1% respectively. 68% of al the remittances were sent from Russia, NBM says. Remittances from Italy, Israel and the USA were 9.3%, 6.3% and 4.8% respectively.

According to the World Bank, remittances from Moldova’s labour migrants reach 20% to 30% of GDP of Moldova. They were at its highest ever in 2008, when the sum amounted to USD 1 billion 660.09 million within the year.