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Expat Moldovans remit over $1b in first nine months
Last Updated: 2013-11-08 10:52 | Xinhua
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Moldova migrants working abroad sent home over 1.16 billion U. S. dollars in the first three quarters of 2013, 8.2 percent higher than the same period last year, latest data by the National Bank of Moldova showed Thursday.

Remittances in September amounted to 139.58 million dollars, up 5.36 million or 4 percent compared to last September.

The Russian rouble made up 36.8 percent of the total remittances, with euros and U.S. dollars making 33.7 percent and 29.5 percent respectively.

The greatest amount of remittances was transferred in July (156.67 million dollars), while the smallest was made in January (98.95 million).

Given that many migrants send money and goods through people or informal channels, the true size of remittances are much larger than official figures, according to analysts.

World Bank data shows that about 700,000 Moldovans work abroad with the money sent by the migrants amounting to 20 percent to 30 percent of the country's GDP.

The record for remittances to Moldova was recorded in 2008, when the sum amounted to 1.66 billion dollars.

The biggest receipts to Moldova come from Russia and Italy.

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