YEREVAN, February 5. /ARKA/. Private cross-border remittances sent to Armenia through banks in 2023 amounted to about $5.7 billion, up from about $5.2 billion sent in 2022, the Central Bank reported.

The largest amount was remitted from Russia - $3.94 billion vs. $3.6 billion in 2022. It was followed by the United States - $663.2 million vs. $670.9 million in 2022, and Switzerland - $140.8 billion vs. $95.7 million in 2022.

The remittances from Armenia to other countries through the banks amounted to $4.04 billion, up from $2.61 billion in 2022.

Some $641.4 million were remitted to Russia, up from  $453 million in 2022; $571 million were remitted to the United Arab Emirates, up from  $275.3 million in 2022 and  $465 million were sent to the USA< up from  $327.8 million in 2022.  

The net inflow of cross-border money transfers in 2023 was $1.65 billion vs. $2.58 billion in 2022. -0-