DUSHANBE, August 12, 2008, Asia-Plus — Tajik and Uzbek labor migrants have stood the first places among the CIS labor migrants in terms of the amount of money remitted from Russia to their homelands over the first quarter of this year, Kommersant-Dengi cited Russian central bank reported.
According to the Bank of Russia, $384 million have been remitted to banks in Tajikistan and $407 million have been remitted to Uzbek banks over the report period. An average remittance to Tajikistan has amounted to $549 and an average remittance to Uzbekistan has amounted to $620.
Over the same three-month period, the highest average remittance has been made to Azerbaijan – $762.
Russian central bank noted that labor migrants remain the main customers of the Russian money transfer systems. Over the first quarter of this year alone, more than 2 billion US dollars have been remitted from Russia to the CIS states.
Labor migrants are a critical component in the economy of Tajikistan. Remittances keep many struggling families at home above the poverty line, and help to alleviate the stress caused by a lack of domestic job opportunities.
According to official data, an estimated more than 500,000 seasonal workers travel abroad each year, primarily to the Russian Federation.
