The volume of private remittances decreased by 5.8% in July and amounted to $939M, National Bank data shows. In particular, wages from Ukrainians abroad increased by 2.9%, while other private transfers received through official channels decreased by 22%.
In total, 11.2% fewer remittances were sent through official channels than in July last year, while the flow through informal channels was at the same level as last year (increased by 0.9%). In just seven months of the year, the volume of remittances decreased by 10.2%, including: net wages by 9% and private transfers by 12.9%.
Note that in the pre-war year 2021, the volume of remittances to Ukraine increased by 25.4% to $15.026B compared to 2020.