Most countries in the ECA region are highly dependent on remittances

The majority of migrants from Central Asia and the Caucasus work in Russia. Therefore, Russia represents by far the largest source of remittances in the region. In the last decade, only Ukraine and Moldova have been able to diversify away from Russia, and now they receive the majority of their remittances from the EU countries. Georgia, another EU-aspiring nation, is gradually witnessing a similar trend.