BUSINESS

Romanian workers’ remittances – usd 40 bln in six years

According to World Bank data and estimates, the Romanian workers’ remittances total USD 38.819 bln in the 2005-2010 period, with 2007 and 2008 being the best years and 2010 being the poorest year, ‘Jurnalul National’ daily informs. In 2009 remittances represented 4.4 per cent of GDP. In 2008 they totaled USD 9.381 bln then started to drop as a consequence of the economic crisis that hit Spain and Italy, the states where most of the Romanians working abroad are employed. The sum dropped steeply to USD 4.928 bln in 2009 and to an estimated USD 4.517 bln this year. In the last two years Ukraine surpassed Romania when it comes to remittances, the remittances of Ukrainian workers surpassing USD 5 bln every year.

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