Monday, September 9 2013 16:05
In Jan-July 2013 inflow of private transfers to Armenia grew 5-fold, and outflow grew much faster
ArmInfo. In Jan-July 2013 the inflow of private non-commercial transfers of individuals via the banking system of Armenia grew more than 5-fold as compared with Jan- July 2012, while outflow grew almost 8-fold. As a result, the net inflow amounted to $766.1 mln in Jan- July 2013 (5-fold y-o-y growth). The Central Bank of Armenia (CBA) reports that in Jan-July 2013 Armenia received $1.2 bln transfers. The share of non-commercial transfers was $942 mln. The outflow from Armenia amounted to $461.4 mln, and the share of non-commercial transfers was $175.9 mln. Both the inflow and the outflow increased.
Russia's share in the incoming transfers dropped from 88.6% to 84.6% and, still, was the biggest. The USA's share increased from 2.6% to 4.7%, Kazakhstan reduced its transfers to Armenia from 1.4% to 1.3%, Ukraine reduced its share from 1.2% to 1%, Germany and France increased its transfers from 0.4- 0.5% to 0.8%, the UAE raised the share from 0.2% to 0.6%, Spain raised its share from 0.3 to 0.4%, Turkey's share remained unchanged - 0.1%, and China increased its share from 0.03% to 0.09%. As regards the outflow, Russia's share was the biggest despite the reduction from 57.7% to 56.8%. The USA ranks next - 9.6%, Ukraine - 4.6%, China - 3.5%, Germany - 2.5%, the UAE - 2.3%, France - 1.9%, Spain - 1.4%, Turkey - 1.3%, and Kazakhstan - 0.6%.
In Jan-July 2013 the amount of private non-commercial transfers from Russia grew more than 5-fold to $797 mln, while the outflow from Armenia to Russia grew almost 8-fold to $99.9 mln. The inflow from the USA increased almost 10-fold to $44.1 mln, while outflow rose almost 11-fold to $16.9 mln. The transfers from Kazakhstan grew 5-fold to $12.5 mln and those to Kazakhstan rose 10 times to $1.1 mln. The transfers from Ukraine amounted to $9.5 mln (4.5-fold y-o-y growth) and those to Ukraine totaled $8.1 mln (almost 6-fold y-o-y growth). The inflow from France was $7.9 mln (more than 8-gold y-o-y growth) and the outflow to France grew 7.5 times to $3.3 mln. The transfers to China totaled $6.1 mln (more than 7-fold y-o-y growth) and those to Germany amounted to $4.4 mln (more than 6-fold y-o-y growth).
The CBA says that in 2012 the inflow of private non-commercial transfers of individuals via the banking system of Armenia amounted to $1.687 bln (up 9% versus 2011). The outflow of private transfers from Armenia grew by 10.4% to $292.2 mln. As a result, as of 1 Jan 2013 the net inflow of private transfers of individuals to Armenia amounted to $1.395 bln (8.8% y-o-y growth).
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