Remittances from Russia to Armenia in 11 months of 2023 up 15% to $3.6 billion- RBC

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Economy

01.02.2024, 18:21

Remittances from Russia to Armenia in the first 11 months of 2023 amounted to $3.6 billion, up from nearly $3.2 billion in 2022, Russian RBC business outlet reported citing the Central Bank data.

Remittances from Russia to Armenia in 11 months of 2023 up 15% to $3.6 billion- RBC

YEREVAN, February 1. /ARKA/. Remittances from Russia to Armenia in the first 11 months of 2023 amounted to $3.6 billion, up from nearly $3.2 billion in 2022, Russian RBC business outlet reported citing the Central Bank data.

Of the four countries studied by RBC - Kazakhstan, Georgia, Armenia and Kyrgyzstan – Armenia was the only country to post an annual increase of 15%.

This statistic takes into account transactions made both through banks and Zolotaya Korona, Unistream and Contact money transfer systems.

A total of $7.7 billion were sent from Russia to these four countries in 2023, which is 12% less than in 2022.

The drop in remittances began in the second quarter of 2023. The statistics does not include data on remittances to Armenia and Kyrgyzstan in December 2023, as the regulators of these countries have not yet published data for this month.

For comparison, remittances from Russia to Kazakhstan grew 6.8 times in 2022 compared to 2021, five times to Georgia, four times to Armenia, and 6% to Kyrgyzstan. --0--

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