Compared to the first quarter of last year, personal remittances from Russia to Tajikistan have reportedly risen 15.1 percent over the first three months of this year.
487 million U.S. dollars have been sent through money transfer system to Tajikistan from Russia over the first three months of this year, which is 15.2 percent more than in the same period last year, according to Russia’s central bank.
Over the first quarter of last year, 423 million U.S. dollars were sent from the Russian Federation to Tajikistan through money transfer system.
Uzbekistan reportedly topped CIS nations in terms of remittance flows sent from Russia through money transfer systems in January-March this year. 726 million USD have reportedly been remitted to banks Uzbekistan from the Russian Federation in the first quarter of this year.
Over the same three-month period, 435 million USD dollars have been sent through money transfer system from Russia to Kyrgyzstan.
Besides, over the report period, banks in Armenia have received 209 million USD in personal remittances, banks in Azerbaijan – 191 million USD, banks in Ukraine – 158 million USD, banks in Kazakhstan – 143 million USD, banks in Moldova – 109 million USD, banks in Belarus – 73 million USD, and banks in Turkmenistan – 200,000 USD.
2.536 billion U.S. dollars were reportedly sent through money transfer system to Tajikistan from Russia last year, which was 607 million U.S. dollars more than in 2016, according to Russia’s central bank.
In 2016, 1.929 billion U.S. dollars were sent to Tajikistan from Russia through the money transfer systems, which was 651 million U.S. dollars more than in 2015 (1.278 billion U.S. dollars were sent through money transfer systems to Tajikistan from Russia in 2015).
Meanwhile, 3.831 billion U.S. dollars were sent through money transfer systems to Tajikistan from Russia in 2014 and 4.155 billion U.S. dollars in 2013.
Tajikistan is one of the world’s most remittance dependent countries and labor migrants are still a critical component in the economy of Tajikistan. Remittances keep many struggling families at home above the poverty line.
An estimated 1 million Tajik labor migrants are currently working in the Russian Federation, according to some sources.
