YEREVAN, January 3. /ARKA/. The net inflow of private cross-border money transfers in Armenia, received from abroad through the banks amounted to $1.12 billion in January-November 2024, compared to $1.49 billion in the same period of 2023, according to the report of the Central Bank of Armenia.

Thus, this indicator decreased by more than 1.3 times year-on-year.

In November 2024, the net inflow of cross-border money transfers was $76.4 million, up from approximately $39.6 million in November 2023.

The total inflow of cross-border money transfers to individuals in Armenia, received from abroad via the banks, amounted to about $4.98 billion in January-November 2024, compared to $5.22 billion in the same period of 2023.

Among the leading countries for money transfers to Armenia in the first eleven months of this year are Russia with $3.17 billion and the United States with $623.7 million. These two countries were also the top contributors in the same period last year, with $3.65 billion and $596.8 million, respectively.

Meanwhile, the outflow of private money transfers from Armenia abroad through the banking system in January-November 2024 was $3.47 billion, compared to $3.35 billion in the same period of 2023.

The UAE ($811.4 million) and Russia ($613.5 million) were the leading destinations for money transfers from Armenia abroad in the reporting period of 2024. For the same period in 2023, the leading countries were Russia ($601.8 million) and the UAE ($534.6 million).