1.111 billion U.S. dollars have been sent through money transfer system from Russia to Tajikistan over the first six months of this year, which was 48 million U.S. dollars fewer than in the same period last year, according to Russia’s central bank.
462 million U.S. dollars were reportedly remitted to banks in Tajikistan over the first quarter of this year 649 million U.S. dollars were remitted to Tajik bank over the second quarter of the year.
Uzbekistan topped CIS nations in terms of remittance flows sent from Russia through money transfer systems over the same six-month period – 2.039 billion U.S. dollars.
Remittances from Russia to banks in Kyrgyzstan over the report period have amounted to 935 million U.S. dollars.
Recall, 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.
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).
In 2017, 2.536 billion U.S. dollars were sent through money transfer system to Tajikistan from Russia, 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.
