US$2.553 billion were sent through money transfer system to Tajikistan from Russia last year, which was 17 million U.S. dollars more than in 2017, according to Russia’s central bank.
Last year, remittances from Tajik citizens sent through money transfer system to the country from Russia were reportedly equivalent to 36 percent of all economic output (as measured by gross domestic product, or GDP).
Uzbekistan topped CIS nations in terms of remittance flows sent from Russia through money transfer systems in 2018.
More than 4 billion U.S. dollars were reportedly remitted to banks in Uzbekistan from the Russian Federation last year, which was 100 million U.S. dollars more than in 2017.
Remittances from Russia to banks in Kyrgyzstan increased from 2.2 billion U.S. dollars in 2017 to 2.4 billion U.S. dollars in 2018, Russia’s central bank says.
Recall, 2.536 billion U.S. dollars were sent through money transfer system to Tajikistan from Russia in 2017, which was more than 600 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).
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.
