Wage remittances from Romania hit record as more foreign workers are admitted

The volume of wage remittances from Romania to other countries reached a record level of EUR 1.2 billion, according to Economica.net, which does not detail the source of the data.

The National Bank of Romania’s Balance of Payments indicates EUR 464 million of wage remittances (+15% y/y) and EUR 3.1 billion (+1% y/y) of other transfers operated by the non-government sector (part of which is informal wage remittances).

Most of the wage remittances from Romania to abroad went to the UK (EUR 433 million), Germany (EUR 149 million), and Italy (EUR 95 million). While the foreign workers in Romania obviously do not come from these countries, their families may live there, Economica.net commented.

As regards the volume of wage remittances sent home by the Romanians working abroad, they decreased under EUR 1.5 billion in 2024, down by EUR 1.5 billion compared to 2023, according to the same source.

(Photo source: Inquam Photos/Octav Ganea)