Money transfers to Armenia grow 16.4% to $724.7 million in Jan-June 2017

10.08.2017 14:58
Money transfers to Armenia grow 16.4% to $724.7 million in Jan-June 2017

YEREVAN, August 10. /ARKA/. More than $724.7 million came to Armenia through banks as individual non-commercial transfers in Jan-June 2017, the Central Bank of Armenia says on its website.

This amount is by 16.4% or AMD 102.2 million larger than that of the same period a year before.

Over $147.5 million was transferred to Armenia in June alone – a 9.1% year-on-year growth.

Remittances from Russia grew 15.5% in Jan-June 2017 to $408.6 million, and remittances from Armenia to Russia grew 6.2% to $178.5 million.

Money transfers from Armenia abroad totaled around $442.4 million in Jan-June 2017 against $368.3 million in Jan-June 2016, and net inflow amounted to $282.2 million against $254.1 million.

According to the central bank, the inflow of money transfers to Armenia shrank 6% to $1 532.8 million in 2016, while outflow from the country grew 7.3% to $816.9 million.

As a result, net inflow reduced by 17% to $715.9 million. --0---


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