Private noncommercial remittances to Armenia increased 14.5% to more than $312.9 million in Jan-March 2017

19.05.2017 17:40
Private noncommercial remittances to Armenia increased 14.5% to more than $312.9 million in Jan-March 2017

YEREVAN, May 19. /ARKA/. More than $312.9 million has been received in Armenia through banks over a period between January and March 2017 as private noncommercial transfers, the Central Bank of Armenia reports on its website.

This amount is 14.5% larger than received at the same period a year before.

Over $127.1 million came to Armenia in March alone showing an 18.1% year-on-year growth and a 26% month-on-month growth.

The remittances have grown at the mentioned period mainly because the inflow of money transfers from Russia intensified, while the outflow from Armenia dwindled.

The inflow from Russia grew 20.7% in Jan-March 2017, compared with the same period a year earlier, to $165.2 million, while the outflow from Armenia to Russia shrank 213.5% to $66.1 million.

In total, $183.5 million was transferred from Armenia abroad in the first quarter of 2017 against $180.5 million in the 1st Q 2016, and net inflows totaled around $129.4 million against $92.6 million respectively.

According to the Central Bank of Armenia $ 1 532.8 million was received in Armenia in 2016 (a six-percent decline) and AMD 816.9 million was transferred outside (a 7.3% growth). As a result, the net inflow amounted to $715.9 million showing a 17-percent decline. --0----


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