YEREVAN, November 20. / ARKA /. The amount of remittances sent to Armenia largely by labor migrants in Russia and other countries to their relatives at home through the banks grew by 0.36 percent in the first nine months of 2014 when compared to the same time span of 2013, to more than $1.323 billion, the Central Bank said in its monthly bulletin for September.
Remittances from Armenia to other countries in the reporting period of time grew by 9.2 percent to about $252.8 million from the year before. The net cash inflow amounted to about $1.070.3 billion, down from $1.086.8 billion year-on-year, according to the bulletin.
The bulk of remittances – about 83.4%- came as usual from Russia. In the first 9 months of 2014 they amounted to about $1.103.9 billion, a decline of 2.2% year-on-year, while the outflow of remittances from Armenia to Russia was up 11.4% to $144.7 million.
In September 2014 more than $185.7 million were remitted to Armenia, up 5% compared with September of 2013, while the amount of money sent outside the country in the same month fell to $26.4 million from $28.4 million in 2013 September.
The net inflow amounted to about $143.3 million, down from $150.5 million in September 2013, a decline of 8.1% from the previous month.
According to the Central Bank, last year a total of $1.869.7 billion were remitted to Armenia by individuals via banks which made about 17.3% of the national GDP. ($ 1 – 416.37 drams) .– 0–
