YEREVAN, December 8. /ARKA/. The Central Bank of Armenia says in a fresh issue of its monthly bulletin that $1484.7 million came to Armenia in Jan-Oct 2014 as individual transfers – 1.9% less than at the same period a year before.

About $280.9 million was transferred from Armenia to other countries in Jan-Oct 2014 against $261.3 million in Jan-Oct 2013 – 7.5% year-on-year growth.

Net inflow amounted to about $1203.8 million against $1086.9 million.

Remittances from Russia dominate the money transfers coming to Armenia – they totaled $1241.4 million (a 4.4% decline) and made up 83.6% of the total amount of the individual transfers received in Armenia in Jan-Oct 2014. Outflow from Armenia to Russia grew 11% to $162.1 million.

According to the regulator, over $161.6 million came to Armenia in October alone showing a 17.1% year-on-year contraction and about $28.14 million were transferred from Armenia abroad – a 7-percent month-on-month growth.

Net inflow amounted to $133.5 million in October 2014 against $140.2 million in September 2014 – a 7-percent month-on-month decline.

Total inflow of money transfers to Armenia amounted to $1869.7 million and made up 17.3% of the country’s GDP. --0--