According to data from Russia’s central bank, 1.938 billion U.S. dollars have been sent through money transfer system to Tajikistan from Russia over the first nine months of this year, which was 3.4 percent or 63 million U.S. dollars more than in the same period last year (in January-September last year, 1.875 billion U.S. dollars were sent to Tajikistan from Russia through money transfer system).
Physical entities have reportedly remitted US$487 million from Russia to banks in the first quarter, 672 million U.S. dollars in the second quarter and 779 million U.S. dollars in the third quarter.
Meanwhile, remittances from Tajikistan to Russia have decrease over the same nine-month period: 42 million U.S. dollars have been remitted in the first quarter; 38 million U.S. dollars have been remitted in the second quarter; and 36 million U.S. dollars have been remitted in the third quarter.
In 2017, 2.536 billion U.S. dollars were reportedly sent through money transfer system to Tajikistan from Russia, which was 607 million U.S. dollars more than in 2016.
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).
3.831 billion U.S. dollars were reportedly 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.
