YEREVAN, August 5. /ARKA/. The net inflow of cross-border transfers to individuals in Armenia via the banking system amounted to $595.4 million in January-June 2024, compared to $897.7 million in the first half of 2023, the Central Bank of Armenia reported on Monday.

This represents a nearly 1.5-fold decrease year-on-year.

In June 2024, the net inflow of cross-border transfers was $146 million, up from $130.4 million in June 2023. The total inflow for January-June 2024 amounted to $2.5 billion, down from $2.9 billion in the same period of 2023. Russia and the USA remained the leading sources of these inflows, with Russia accounting for $1.6 billion (compared to $2.1 billion in the first half of 2023) and the USA contributing $325.2 million (up from $308.9 million in the same period of 2023).

Outflows from Armenia to abroad through the banking system in January-June 2024 were $1.9 billion, down from $2 billion in the first half of 2023. The UAE and Russia were the primary destinations for these outflows, with the UAE receiving $354.5 million (up from $252 million in January-June 2023) and Russia receiving $303 million (down from $342.7 million in the same period of 2023).