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Money transfers of immigrants from Poland and emigrants to Poland – NBP data for the first quarter of 2023

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Immigrants working in Poland sent abroad PLN 7.6 billion in the first quarter of 2023, of which over 60 percent went to Ukraine. In turn, transfers to Poland in this period amounted to PLN 4.8 billion, and the main direction was Germany, according to data from the National Bank of Poland.

Transfers from Poland from working immigrants in Q1 2023 amounted to PLN 7.6 billion, PLN 1.7 billion more than in the corresponding period of 2022, NBP reported in the balance of payments for Q1. Ukraine hit 62.4 percent. total transfers.

Transfers from Poland from working immigrants

The NBP reports that the recorded increase resulted from growing transfers from short-term immigrants, which in the first quarter of 2023 amounted to PLN 6.0 billion against PLN 4.8 billion in the first quarter of 2022.

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According to NBP data, transfers to Ukraine continued to dominate in the geographical structure. They amounted to PLN 4.7 billion and accounted for 62.4 percent. all means.

NBP reports that the funds transferred to other countries neighboring Poland also increased, especially to Poland Belarus.

Transfers to Poland from emigrants

Transfers to Poland from emigrants in the first quarter of 2023 amounted to PLN 4.8 billion compared to PLN 4.4 billion in the same quarter of 2022, NBP announced.

In the first quarter of 2023, PLN 4.8 billion was transferred to the country due to Poles working abroad. This amount consisted of remittances from short-term migrants in the amount of PLN 1.6 billion (i.e. 34.1 percent of all transfers) and from long-term migrants in the amount of PLN 3.2 billion (i.e. 65.9 percent of the total amount), the central bank wrote.

NBP informs that the recorded increase in transfers compared to the first quarter of 2022 was mainly influenced by the weaker exchange rate of the Polish zloty and a higher than a year ago inflow of funds from GermanNetherlands, Norway.

On the other hand, a decrease in funds transferred to Poland from Great Britain and Ireland was recorded.

The country with the highest value of remittances remained Germany. In the first quarter of 2023, Poles working there transferred PLN 1.6 billion to the country. In second place, she found herself Great Britainfrom which PLN 0.7 billion flowed to Poland. In total, remittances from these two countries accounted for 48.3 percent. all transfers.

Main photo source: Shutterstock



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