The World Bank says Ukraine in 2018 received a new record in remittances of more than $14 billion in 2018, up about 19% over 2017.
"Ukraine, the region's largest remittance recipient, received a new record of more than $14 billion in 2018, up about 19% over 2017. This surge in Ukraine also reflects a revised methodology for estimating incoming remittances, as well as growth in neighboring countries' demand for migrant workers," according to the World Bank's latest Migration and Development Brief.
After posting 22% growth in 2017, remittances to Europe and Central Asia grew an estimated 11% to $59 billion in 2018, the World Bank said.
As UNIAN reported earlier, the National Bank estimated the volume of remittances to Ukraine in 2018 at $10.888 billion, which was 17.5% up from 2017.
The largest amount of remittances to Ukraine comes from Poland, Russia, USA, Czech Republic and Italy. At the same time, the volume of remittances from Poland grew by 16.4% compared with the previous year, while those from Russia shrank by 26.6%.