The volume of remittances to Ukraine for January-May 2025 decreased by 15.4% to – $3.5 billion, in particular net remuneration of labor decreased by 18.7%, and the volume of private transfers – by 11.2%, according to the data of the balance of payments of the National Bank of Ukraine (NBU). As noted in the statistics, in May, the volume of private money transfers decreased by 13.2%, to $0.7 billion.
“Wages that Ukrainians receive from abroad decreased by 9.5%, and other private transfers received through official channels decreased by 9.7%,” – commented the National Bank.
Overall, the volume of transfers through official channels in May 2025 was 9.6% lower than in May 2024, while receipts through informal channels decreased by 18% year-on-year.
In May 2025, the primary revenue balance turned negative to $45 million against a surplus of $20 million in May 2024.
“The decline in labor compensation receipts (down 16.9%) was more rapid than the decline in investment income payments6 (down 2.7%).” The secondary income balance surplus shrank,” the regulator explains.
At the same time, the secondary income balance surplus decreased to $0.7bn from $1.0bn in May last year due to a reduction in technical and humanitarian aid.
