Remittances to Armenia in 9 months grew by 15.5 percent

31.10.2017 15:25
Remittances to Armenia in 9 months grew by 15.5 percent

YEREVAN, October 31. /ARKA/. Private remittances sent to Armenia in the first 9 months of 2017 grew by 15.5% from the same time span of 2016, Central Bank chairman Artur Javadyan told journalists on Monday. He added that the growth was registered in USD equivalent.

According to the Central Bank, in January-August 2017 more than $1 billion in private remittances arrived in Armenia through the banks for non-commercial purposes, by $160 million or 17.5% more than in the same period of the past year.

At the same time, the amount of remittances from Russia in the first 8 months of 2017 increased by 16.6% to $642 million, while the amount of remittances from Armenia to Russia grew to $232.5 million.

The amount of remittances from Armenia to other countries amounted to about $604.4 million against $484.8 million in January-August 2016 (an increase of 24.6%). The net inflow of remittances in the reporting period amounted to about $469.9 million against $ 429.5 million in January-August 2016.

According to the Central Bank, in 2016 a total of $1.532.8 billion were remitted to Armenia in 2016 as private remittances, a decrease of 6% from 2015, while remittances from Armenia to other countries grew by 7.3% to $816.9 million. As a result, the net inflow of remittances stood at about $ 715.9 million, a decrease of 17% from the previous year. --0--


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