Ukraine’s economy sees 8th most in remittances of all countries, receiving $16.5B

The World Bank estimated that remittances to developing countries were $528 billion in 2018. Half of these remittances were received by six countries: India received $80 billion, China ($67 billion), Mexico and the Philippines ($34 billion each), and Egypt ($26 billion) and Nigeria ($25 billion). Remittances were the largest share of GDP in ex-USSR countries and island states, led by Kyrgyz Republic, where remittances were 36 percent of GDP, and Tonga, 35 percent.

https://migration.ucdavis.edu/rmn/blog/post/?id=2235

If I understand correctly, these are monies sent into each country from people outside the country. They are classified as gives and usually come from relatives working internationally.

Think of all those bank fees!!! It’s a great use case for crypto.

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