Remittances from Azerbaijan to US shrink

In 2023, $54.8 million was transferred from Azerbaijan to the US, which is 2.4 times less year-on-year, Report informs via the Central Bank of Azerbaijan (CBA).

The share of money transfers from Azerbaijan to the US in the total volume of transfers abroad increased from 20.6% to 10% year-on-year.

Last year, $73.8 million were transferred from the US to Azerbaijan, which is 34.5% more year-on-year.

In 2023, the share of remittances from the US to Azerbaijan in the total volume of transfers increased from 4.3% to 4.5%.