Ukraine received more foreign exchange from migrant workers. By the end of 2018, the flow of remittances to our country increased by 19% and reached $14 billion, says world Bank report. It’s almost a third more than that recently counted the national Bank of Ukraine reported an increase in volume of transfers by 17.5%, to $10.9 billion, reports ubr.ua.
In the report, the WB underlines that Ukraine remains the main recipient of funds in Europe. “This surge in Ukraine also reflects a revised methodology for the assessment of incoming remittances, as well as the growth of demand in neighboring countries for migrant workers”, – stated in it.
The volume of remittances in Europe and Central Asia over the past year increased approximately 11% to $59 billion Serious gains recorded in other areas:
- Remittances to Latin America and the Caribbean increased 10% to $88 billion Significantly (11%) have grown the enumeration of labour migrants in Mexico ($36 billion) – the majority operating in the United States. As well as in Colombia and Ecuador (16% and 8%, respectively), whose workers toil primarily in Spain.
- In the middle East and North Africa translated into 9% more than in the 2017th. Just $62 billion More to Egypt.
- Enumeration to South Asia rose by 12% and came to $131 billion. most funds received in India and Bangladesh.
- Transfers to the countries of Africa South of the Sahara increased by 10% to $46 billion most of the currency came to the Gambia, Senegal, Zimbabwe, Nigeria, Togo, etc.
In the world Bank report points to an active increase of remittances from labor migrants in countries with low and middle income. It was 9.6%, to $529 billion, the Total volume of remittances around the world (including countries with high income) for the year 2018 increased slightly less – by 8.8%, to $689 billion.
The world Bank experts noted that explored only the official remittances which went through the banking systems of different countries and non-Bank financial institutions. The black market defies analysis.