Remittances to Ukraine reached $9.6 billion over the year: from which countries the most were sent
Kyiv • UNN
The NBU reported $9.6 billion in transfers to Ukraine in 2024 through official and unofficial channels. Most of the funds came from the US, Israel, and Germany, and Western Union was the leader among payment systems.
In 2024, about $9.6 billion was transferred to Ukraine through official and unofficial channels, the National Bank of Ukraine reported on Friday, UNN writes.
According to preliminary data, in 2024, about USD 9.6 billion was transferred to Ukraine from around the world. This includes transfers through formal channels (banks, international money transfer systems, post offices) and informal channels (hand-to-hand transfers)
At the same time, as indicated, in 2024, payment systems were actively used for money transfers both from abroad and within Ukraine.
Transfers within Ukraine
Last year, the volume of domestic transfers made through "money transfer" payment systems amounted to UAH 1,336.58 billion (USD 33.2 billion in equivalent). This is 83% more than in 2023.
The average amount of a single transfer within Ukraine in 2024 was UAH 1,231 (UAH 862 in 2023).
The leader in terms of the amount of transfers within Ukraine was the PrivatMoney payment system (56.97% of all domestic transfers).
Transfers to Ukraine
In 2024, almost USD 2.5 billion was transferred to Ukraine using "money transfer" payment systems (created by both residents and non-residents). USD equivalent. This is 4.6% less than in 2023.
The average amount of one such cross-border transfer to Ukraine last year was USD 267. (in 2023 - USD 256).
Last year, the largest volumes of funds came to Ukraine through the "money transfer" payment systems from the United States (19.39%), Israel (16.80%), Germany (10.80%), Italy (10.21%), and the United Kingdom (9.41%).
The leaders in terms of the amount of transfers to Ukraine were the following three "money transfer" payment systems:
- Western Union (a US-based payment organization) - 37.58% of all transfers;
- MoneyGram (a US-based payment organization) - 19.20% of all transfers;
- RIA (payment organization - US resident) - 18.33% of all transfers.
"It is valuable that in 2024, humanitarian aid payments to Ukrainians from a number of international organizations continued to be made through the 'money transfer' payment system channel," the NBU said.
Traditionally, "money transfer" payment systems were used in previous years, before the full-scale invasion, to receive about a quarter of all private remittances to Ukraine. "In 2024, this trend continued," the National Bank noted.
The NBU also noted that transfers from Ukraine abroad are limited during martial law.