Ukraine has become the leader in remittances from migrants in the EU

16 June 2015 11:44  29101352 0102372
Ukraine has become the leader in remittances from migrants in the EU

In 2014, migrants living in Europe sent home 109.4 billion dollars in remittances.

This is stated in the report of the International Fund for Agricultural Development (IFAD), the reports.

"The leader in terms of received remittances is Ukraine - 7.587 billion dollars. Poland is on the second place with 7.466 billion dollars. The third is Nigeria with 7.412 billions dollars", - the statement reads.

The IFAD report is based on the data from the World Bank.

The largest remittances from migrants in Europe are sent from Russia (20.6 billion dollars), the UK (17.1 billion dollars), Germany (14 billion dollars), France (10.5 billion dollars), Italy (10.4 billion dollars) and Spain (9.6 billion dollars).

Together, these countries generate 75% of total remittances sent from Europe. One-third of the total amount - 36.5 billion dollars - goes to the countries of Eastern Europe, including Ukraine and Poland, as well the Baltic and the Balkan states.

According to the Ukrainian National Bank, the countries of Europe, from which cash flow to Ukraine were the largest in 2014, are Russia, Germany, and Greece.

Ukrainska Pravda

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