Remittances from Azerbaijan to Türkiye dwindle by 19%

In 2023, $146.14 million was transferred from Azerbaijan to Türkiye, which is 19% less year-on-year, Report informs via the Central Bank of Azerbaijan (CBA).

The share of money transfers from Azerbaijan to Türkiye in the total volume of transfers abroad increased from 26.2% to 26.6% year-on-year.

Last year, $164.316 million were transferred from Türkiye to Azerbaijan, which is 34.5% more year-on-year.

In 2023, the share of remittances from Türkiye to Azerbaijan in the total volume of transfers increased from 3.4% to 9.9%.