Private remittances to Armenia in January up almost 20 percent year-on-year to $99.6 million

Private remittances to Armenia in January up almost 20 percent year-on-year to $99.6 million

YEREVAN, March 12. / ARKA /. More than $99.6 million were remitted to Armenia in January 2014 through banks by individuals for non-commercial purposes, the Central Bank of Armenia said in its monthly bulletin for January. 

This figure represented a 19.6 percent rise from 2013 January. However, the amount of remittances in January was 46.9% less if compared to December 2013.

The amount of money remitted from Armenia to other countries in January 2014 rose to about $20.9 million from $20.6 million in January last year. The net cash inflow in January this year stood at $78.6 million, up from $62.5 million in January 2013.

The bulk of money transfers to Armenia- about 81 % of the total amount of private remittances or $65.3 million (up 23.3%) - came from the Russian Federation. And some $11.2 million (up 7.1%) were remitted from Armenia to Russia.

According to the Central Bank, some $1.869.7 billion or 17.3% of GDP were remitted to Armenia last year. ($ 1 - 414.90 drams). -0-

13:15 12.03.2014

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