bne:Chart – Third of Tajik GDP in 2014 is money sent home from Russia

By bne IntelliNews April 24, 2015

Henry Kirby in London -

 

The volume of Russian money entering former Soviet countries is in some cases as high as a third of the recipient state’s GDP, data from the Central Bank of Russia (CBR) has shown.

The data for 2014 represents all cross-border money transactions executed by non-residents, who in most cases are labour migrants from bordering nations.

Uzbekistan received the highest nominal volume of remittances in 2014, at $4.89bn, representing 7.9% of its 2014 GDP.

As the bne:Chart shows, the biggest recipient in GDP percentage terms was Tajikistan. The $3.01bn it received in 2014 was equivalent to 32.9% of its GDP for the same year.

Kyrgyzstan’s $1.19bn was equivalent to 17.7% of its GDP.

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