Remittances this year are larger than last year

The individuals from abroad over January-October 2007 transferred to Moldova through commercial banks 972.21 million USD. The figure is by 854.6 million USD larger than the volume of remittances sent throughout last year. According to the central bank, October saw the largest volume of remittances – 129.5 million USD. About 727.6 million USD or 75% of the total remittances have been sent through money transfer systems. The individuals in 2006 transferred home through commercial banks about 854.6 million USD, by 171.3 million USD (+25%) more than the year before. Most of the remittances come from Russia and Italy. According to the World Bank, the remittances in Moldova make up one third of the Gross Domestic Product each year.