Thursday, April 12, 2012 -
Remittances from Central Asian migrant workers in Russia rose substantially in 2011 over the previous year, according to statistics released by Russia’s central bank on Thursday.
Money transfers from Uzbek laborers soared by more than 150 percent last year to $4.3 billion, the bank said.
Tajik earnings sent home via various money transfer systems rose 36 percent to reach $3 billion in 2011, figures showed. By comparison, they transferred around $2.2 billion in 2010.
The Russian State Postal Service said there was a 38 percent rise in money sent by individual Tajiks through its system last year, The Tajik news agency AsiaPlus.tj reported.
Central bank figures showed money transfers to Kyrgyzstan grew 43 percent to $1.6 billion in 2011.
The volume of bank wires to Turkmenistan was comparatively how, standing at just $34 million last year.
Individual amounts are relatively small. Uzbeks led in terms of single transfers, averaging $523. By comparison an average Kyrgyz transfer came to $280, while Tajik transfers averaged $275.
Remittances from Russia make up 50 percent of Tajikistan’s gross domestic product (GDP).
The Russian bank said it had no details on money that labor migrants sent via their friends, train conductors, and other methods.