YEREVAN, October 13./ARKA/. Individual noncommercial money transfers to Armenia totaled over $1 153.3 million in Jan-Aug 2014 – 1.2% more than at the same period a year earlier, the Central Bank of Armenia says in a fresh issue of its monthly bulletin.
About $226.4 million was transferred from Armenia abroad over the mentioned period of 2014 – 11.5% year-on-year growth.
Net inflow amounted to $926.9 million in Jan-Aug 2014 against $936.3 in Jan-Aug 2013. Transfers from Russia dominated the total individual remittance inflow with 83%. About $958.1 million was sent from Armenia to Russia for eight months of this year (1.44% year-on-year decline) and $128.4 million was received from Russia (12.5% year-on-year growth).
More than $185.7 million came to Armenia in August alone – 5.8% less than in the same month a year before, and about $29.7 million was transferred outside against $27 million a year earlier.
Net inflow amounted to $156 million against $170.2 million.
The regulator says Armenia’s remittance inflow totaled $1 869.7 million and made up about 17.3% of the country’s GDP in 2013. ($1 – AMD 412.37). —-0—–
