The main purpose of this research has been to identify the relationship between remittance inflows and the economic growth of the 11 Commonwealth Independent States over the period of 25 years from 1994 until 2018. In the last 2 decades inflowing remittances have increased at unprecedented levels reaching as high as 40% of national GDP in some Commonwealth Independent States. Based on the estimation and discussion results described in this paper, I conclude that remittances received have positive and statistically significant impact on the GDP per capita growth in member states. Thus, 1 percent increase in remittance inflows has yielded 0.08 percent increase in GDP per capita. Although these remittance inflows had positive and statistically significant effect on the GDP per capita growth of the nations, their contribution still remains small as it has been shown on the panel data analysis.