Armenian labor migrants in Russia sent home $94.2 million in Jan.-Feb.

10.04.2010 19:34
Armenian labor migrants in Russia sent home $94.2 million in Jan.-Feb.

YEREVAN, April 10, /ARKA/. In Jan.-Feb, 2010 Armenian labor migrants working in Russia sent home to relatives $94.2 million via banks.

The figure represents a 3% decline from the same period last year, the Central Bank of Armenia said in its monthly bulletin, posted on its official website.

The volume of money transfers from Armenia to Russia grew by 2.7% to $16.8 million, the Central Bank said. As a result the net volume of money transfers from Russia in Jan.-Feb. grew by 2.7% to $77.4 million, down from $75.4 million in the first two months of 2009.

Russia accounted for 59.6% of all individual remittances to Armenia in Jan.-Feb. 2010 and 20% of remittances from Armenia in the opposite direction.

According to the Central Bank of Armenia, the amount of individual money transfers to Armenia via banks in the first two months of the year slashed by 6.6% year-on-year ($11.1 million) to $158.2 million. The volume of money transfers from Armenia to other countries in the period of time under question dropped by 2.6% to $84 million, down from $86.2 million in Jan.-Feb. 2009.

The net inflow of remittances fell by 10.7% year-on-year to $74.2 million, down from $83.1 million in Jan.-Feb. 2009. ($1 – 397.84 Drams). -0-


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