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Money transfers from Ukrainian labor migrants increase 25 times for 20 years

Source : 112 Ukraine

Due to the pandemic, the slowdown in growth was observed in 2020 – only $59 million
17:55, 20 August 2021

Open source

The Ukrainian migrants transferred $486 million to the motherland in 2000 and $11.9 billion in 2020. Thus, the volumes of the annual transfers from the labor migrants have increased 24.65 times in 20 years as 112ua.tv reported.

Since 2007, the volumes of private money transfers were increasing slowly, reaching the peak in 2013 - $8.5 billion. In 2014, their volume has dropped up to $6.5 billion. Since then, the volumes of the transfers continue to grow, increasing to $11.9 billion in 2020.

Related: What's wrong with new payment for Ukrainian labor migrants?

Due to the pandemic, the slowdown in growth was observed in 2020 – only $59 million.

Frequent money transfers are the international transfers or flows of resources of the household that come from other countries and they are mostly tied with temporary or permanent migration of the population.

Related: Year of quarantine in labor market. Why Ukrainians are choosing to work in Poland?

As we reported, the number of Ukrainian labor migrants in Poland has doubled since 2014. It is now about 1.5 million Ukrainians working in Poland.

 

 

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