The Moldovan diaspora transferred US$1.62 billion to the Republic of Moldova in 2023, and US$1.60 billion in the third quarter of 2024, in annual value. The diaspora made a large contribution to the Gross Domestic Product (GDP) and the transfers from abroad during 15 years were higher than the salaries paid in the country. For 10 years, the money sent home by the Moldovans who worked abroad was higher in value than the Moldovan exports, economic expert Vyacheslav Ionita said in his weekly show “Economic Analyses”.
According to him, the net sales of foreign currency by individuals speak of the fact that the Moldovans brought money into the country by other means than the official ones. In 2000, the Moldovans sold US$258 million, in 2023 – US$2.85 billions, while in 2024, in the third quarter – US$3.10 billion in annual value.
“There is a difference of US$1.5 billion between the official transfers made by individuals and the official foreign currency sales of individuals. This indicator is closer to reality. It describes the currency that the Moldovans sell. A Moldovan ,in order to sell currency, must receive it from somewhere. Every year, we have a much higher amount of money, in foreign currency, than the previous year,” tsated Vyacheslav Ionita.
The economist noted that there are five factors that reflect the situation of transfers from abroad. The first two of them influence the indicator of citizens’ transfers down, and the other three influence it up. It goes to the currency brought to the Republic of Moldova by Ukrainian refugees, the undeclared exports of agricultural products and the introduction of foreign currency into the country as individuals and the purchase of vehicles from abroad.
The vacations abroad of Moldovans, the purchase of goods abroad by individuals and their introduction without a customs declaration, including within the limits of the law, are added to this.
Analyzing the total transfers of the diaspora, the economic analyst noted that from 2000 to 2024, they totaled US$53 billion, of which US$15.1 billion in the last five years.
Referring to the foreign exchange inflows into Moldova from Moldovans who are abroad in the last 25 years, the economist said that the official foreign currency inflows in favor of individuals amounted to US$28.4 billion; the official foreign exchange sales of individuals – to US$44.6 billion. Thus, there is a difference of US$16.2 billion.
According to Vyacheslav Ionita, the contribution of the diaspora to the national public budget in 2000/2004 was 15.5%, or 6.1 billion lei of the budget’s revenues were made up of revenues obtained from expenses incurred by people who received money from abroad.
Speaking about the transfers from abroad as a proportion of the GDP, the economist said that today they are twice as low as they once were, by 20%. However, cumulatively, since 2000 until now, the diaspora transferred almost 7 GDPs of the Republic of Moldova. At the value of 2024, this is US$123.6 billion.
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