YEREVAN, April 30. /ARKA/. The net inflow of private money transfers to Armenia from overseas through the banking sector has nearly halved in the first quarter of 2025, totaling $143.7 million, a sharp decline from $278.6 million during the same period in 2024, as reported by the Central Bank. This marks a decrease of over 1.9 times year-on-year.
In March alone, the net inflow was $56.2 million, down from $124.7 million in March of the previous year.
During the first quarter of this year, the total amount of cross-border money transfers reached $1.3 billion, compared to $1.2 billion during the same quarter last year.
Leading the way in sending money to Armenia are Russia, contributing $819.5 million, and the United States, which accounted for $157.7 million. These two nations were also at the top last year with $794.9 million and $161.1 million, respectively.
In terms of money leaving Armenia, the outflow of private money transfers amounted to $1.1 billion in the first quarter of 2025, an increase from $936.2 million in the same period the previous year.
Switzerland and the UAE are the top destinations for money transfers from Armenia, totaling $234.4 million and $170 million, respectively. In the first quarter of 2024, the UAE and the United States led with $177.1 million and $144.1 million.-0-
