YEREVAN, January 16. /ARKA/. Private transfers through Armenia’s banking system exceeded a total of $1,682 million in January-November 2013, an increase of 9.8% compared to the same period of 2012, says monthly handbook of the Central Bank of Armenia for November 2013.
Transfers from Armenia amounted to about $289.7 million against $262.7 million in the same period of 2012. Net inflow was about $1,392.2 million in the period compared to $1,268.4 million in January-November 2012.
The bulk of transfers to Armenia are from Russia – about 85.9% of the overall amount. Money transfers from Russia to Armenia amounted to about $1,445.9 million in 11 months of 2013, as compared to 1,312.3 million in 2012; transfers from Armenia to Russia were $161.5mln against $148.2 mln.
Transfers to Armenia totaled about $168.7 million in November 2013 (3% increase compared to November 2012), those from Armenia amounted to about $28.5 million (5% reduction).
According to the Central Bank, money transfers in 2012 exceeded the 2008 pre-crisis 3.1% level and totaled $1,687.2 million or about 17% of the country’s GDP as of the end of the year.–0–
