Moldova ranks 4th in the world by amount of remittances
Infotag / Chisinau -- Moldova has ranked 4th in the world by amount of remittances from abroad to the GDP level.
The data is provided by the new World Bank (WB) Migration and Development Brief, where Tajikistan is leader in the top 10 countries mostly dependent on remittances.
According to the research, in 2010 Moldovan gastarbeiters [citizens who are temporary employed abroad] transferred over US$1.3 billion to the homeland, which makes over 23% to GDP.
Amount of remittances in Tajikistan constitutes 31% to GDP; in Lesotho is 29%, and Samoa - 25%.
Thus, Kirgizia also entered the top 5, where amount of remittances from abroad reach 21% to GDP.
Most money was transferred to Moldova by nationals employed in Russia - about US$440 million. Second and third rankings belong to Italy and Ukraine. About US$80 million came from the U.S., and US$60 - from Romania.
According to the WB, about 800,000 citizens work outside the limits of Moldova, of which about 300,000 in Russia, 170,000 in Ukraine, 90,000 in Italy, 40,000 in Romania, and 25,000 - in the U.S.
WB experts forecasted that amount of remittances to Moldova in 2011 will exceed US$1.5 billion. As of the end of October, it reached US$1.118 billion.
The list of top leaders by amounts of officially registered remittances also includes India (US$58 billion), China (US$57 billion), Mexico (US$24 billion), and the Philippines (US$23 billion).
According to World Bank forecasts, next years remittances will grow by 7.3% in 2012, 7.9% in 2013, and 8.4% in 2014.
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