Volume of remittances from Russia to Armenia decreased

Outflow from Armenia to Russia increased in 2015

Baku. 2 February. REPORT.AZ/ In 2015, the volume of remittances (transfers) from Russia to Armenia addressed to individuals for non-commercial purposes declined by 36% or 518 29 mln USD, amounting to approximately 915.9 mln USD. Report informs referring to the Armenian media, it is stated on the website of the Central Bank of Armenia.

Despite a significant decline in remittances from Russia, their share in the total volume of transfers in Armenia is still prevailing, among the other countries.Russian share transfers in the total private transfers for the reporting period amounted to approximately 75.8%.

In general, the amount of remittances received by the country in 2015, declined by 30%, or 520 mln USD, amounting to 1 728.5 mln USD.

According to the Central Bank of Armenia, the outflow of funds from this country to Russia in 2015 increased by 0.6% to 204.57 mln USD. According to the Central Bank, remittances from Russia to Armenia declining for the second year.

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