Individual transfers to Armenia shrink 32.2% to $1 billion in Jan-Oct 2015

07.12.2015 19:39
Individual transfers to Armenia shrink 32.2% to $1 billion in Jan-Oct 2015

YEREVAN, December 7. /ARKA/. Over $1 billion was received in Armenia in Jan-Oct 2015 through banks as individual noncommercial transfers, the Central Bank of Armenia reports in a fresh issue of its monthly bulletin.

This amount is 32.3% less than that received in Jan-Oct 2014.
Remittances sent from Armenia abroad over the first ten months of this year totaled about $262.7 million against $280.9 million in Jan-Oct 2014 – 6.5% decline.

Net inflow amounted to about $743.5 million against $1 203.7 million one year earlier.
Transfers from Russia dominated the total amount that came from abroad in Jan-Oct 2015. They totaled $769.6 million showing a 38% year-on-year decline and the money sent from Armenia to Russia over the mentioned period amounted to about $169.6 million (4.5% growth).

Over $109.1 million was received in Armenia in October alone (32% decline).

Remittances to Armenia have shrunk 7.5% over 2014 to $1.73 billion (15.7% of the country's GDP).
The last year's decline was mainly due to reduction of Russian transfers caused by devaluation of the Russian ruble. ($1 – AMD 484.44). ----0----


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