DUSHANBE, December 25, 2012, Asia-Plus — Nearly 3.3 billion U.S. dollars have been remitted to banks in Tajikistan over the first eleven years, according to the report, Monitoring & Early Warning in Tajikistan, prepared by the Ministry of Economic Development and Trade (MEDT).
The findings of the monthly report for December 2012, Monitoring & Early Warning in Tajikistan, show that unofficially reported remittances in November totaled 305.6 million U.S. dollars, 11 percent higher than for the same period in 2011. Remittances are running at a higher rate than previous years 10 years, consistent with an increase in out-migration, the report said.
Historical trends however, indicate that from the end of September to the March next year, the volume of remittances will be reduced compared to the May-August period. The drop is caused by a seasonal reduction in work in Russia due to cold weather, and many migrants returning home.
According to data of the National Bank of Tajikistan (NBT), reported remittances last year totaled more than 2.9 billion U.S. dollars, 33 percent higher than in 2011.
Meanwhile, according to findings by Russia’s central bank, more than 3 billion U.S. dollars were remitted to banks in Tajikistan in 2011.
Labor migrants remain a critical component in the economy of Tajikistan and remittances keep many families in the country above the poverty line.
The monthly report for December 2012 notes that cumulative out migration levels are higher than from 2009 to 2011. Remittances are running at higher levels than for the same periods over the past 10 years. These increases are likely mitigating the impacts of increased food prices, but only for those families who have access to remittances.
Tajikistan’s migration service agency reports that over the first eleven months of this year, a total of 823,866 persons have left Tajikistan and 575,457 persons have returned. Tajik seasonal workers travel primarily to Russia but also to neighboring Kazakhstan, Kyrgyzstan and Uzbekistan
The aim of the Tajikistan Monthly Monitoring and Early Warning (MEWS) Reports is to provide regular information and succinct analysis on the evolution of natural, economic, food-related, energy-related and other risk factors in Tajikistan. Data and information in this report are provided by different sources and compiled by the MEW System GoT Group of Experts and UN Agencies in Tajikistan.
