Personal remittances to Romania in the first six months of the year were 41 percent higher compared to the same period of 2021, yet the average transfer size was lower because of the economic uncertainty and the increase in living costs, shows data recorded in the Revolut financial app.
The number of peer-to-peer transactions to users based in Romania was 49 percent higher compared to the year-ago period, and the number of clients who use the application to transfer personal funds to Romania was also on an upward trend (+54 percent).
However, the average transfer amount/transaction was on a downward trend, as a Revolut user's average remittance to Romania dropped 11 percent from 1,908 euros in the first half of 2021 to 1,702 euros in H1 2022, and the average single transfer amount decreased by 7 percent from 182 euros to 169 euros.
According Eurostat data, Romania's remittance inflow in 2019 amounted to 7.3 billion euros (of which almost 5.6 billion euros from the EU). In 2020, the total amount of such transfers dropped to almost 6.7 billion euros, of which almost 5 billion from the EU. AGERPRES
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