remittances sent to Azerbaijan from Russia


83.6% of remittances sent to Azerbaijan from Russia Baku, Fineko/ The International Fund for Agricultural Development (IFAD) has published a report on  “Sending Money Home: European flows and markets”. According to the report, last year migrant workers living in Europe sent home US$109.4 billion in remittances, providing a lifeline to more than 150 million people around the world.

Share of Azerbaijan in total volume of remittances doesn’t exceed 1.2% ($1,324 bn), and 83.6% of those remittances ($1.107 bn) come from Russia, the global leader as a source of remittances ($20.688 bn.). Azerbaijan has 743,000 migrants in RF. Georgia receives $1.223 bn from Russia ($1.77 bn of total remittances) and Armenia – $1.38 bn ($1.747 bn).

Ukraine, as a world leader on received remittances, receives $3.936 bn from Russia, while the total volume of remittances reaches $7.587 bn. Uzbek migrants are the leaders on sending remittances from Russia ($5.588 bn).

Only Poland can be compared with Ukraine in terms of received remittances ($7.466 bn).

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