DUSHANBE, September 18, 2012, Asia-Plus  -- Private individuals, primarily migrant workers, have remitted more than 1.4 billion U.S. dollars from the Russian Federation to banks in Tajikistan over the first six months of this year, Russia’s central bank reports.

Over the first quarter of 2012, physical entities have reportedly remitted 551 million U.S. dollars and over the second quarter, they have remitted 851 million U.S. dollars.

In January-March, an average amount of one remittance from Russia to Tajikistan was US$316.00, while in the second quarter (April-June) this amount reportedly fell to US$239.00.

According to the data from Russia’s central bank, Uzbekistan now tops the CIS nations in terms of remittances from the Russian Federation – Uzbeks have reportedly remitted more than 2.1 billion US dollars, from Russia to banks in Uzbekistan over the first half-year of 2012.

Uzbekistan is followed by Tajikistan and Ukraine.  Ukrainian nationals have reportedly remitted some 1.3 billion U.S. dollars from Russia to banks in Ukraine over the first six months of this year.

In 2011, physical entities reportedly remitted more than 3 billion from Russian to Tajik banks, which was some US$800 million more than in 2010.

Labor migrants remain a critical component in Tajikistan’s economy.  Remittances keep many families at home above the poverty line.