DUSHANBE, December 23, 2011, Asia-Plus  -- Russia’s central bank reports that over the third quarter (July-September) of this year physical entities working in the Russian Federation have remitted 12.3 billion U.S. dollars to the far abroad countries and 5.1 billion U.S. dollars to the CIS nations.

Uzbekistan and Tajikistan reportedly top the CIS nations in terms of money remittances.  US$1.512 billion and US$1.044 billion have been remitted over the report period to Uzbekistan and Tajikistan respectively.

An average amount of one remittance from Russia to banks in Tajikistan over the same three-month period was US$296.00.

China and Switzerland reportedly top the far abroad countries in terms of money remittances from the Russian Federation, the Central Bank of the Russian Federation said.  Trans-border remittances from Russia to China and Switzerland have amounted to US$794 million and US$770 million respectively.

Over the same three-month period, physical entities have remitted 48 million U.S. dollars from Tajikistan to the Russian Federation.

Labor migrants are a critical component in the economy of Tajikistan, keeping many struggling families at home above the poverty line.  Some 600,000 Tajik seasonal workers travel abroad each year, primarily to Russia but also to neighboring Kazakhstan, Kyrgyzstan and Uzbekistan, according to Tajikistan’s Migration Service.