CBA: The inflow of Russian transfers to Armenia reduced in 2016 by 11.1%, while outflows grew by 16.5%

ArmInfo. The inflow of transfers of individuals in Armenia reduced in January-December 2016 by 6.1% per year to $ 1.5 billion, with an increase in the outflow of 7.4% per annum up to $ 817 million. As a result, the net inflow of transfers to individuals decreased by 17.8% per annum. According to the Central Bank's data, the inflow of transfers from Russia to Armenia reduced by 11.1% in 2016 to $ 896.9 million, with an increase in the outflow by 16.5% to $ 333.4 million, which formed a net inflow of transfers from Russia at $ 563.5 million with annual decline by 22%.

The inflow and outflow of transfers dominant on the results of 2016 is Russia 58.5% and 40.8%, against 61.8% and 37.6% a year earlier.  After it, on the specific weight in the total inflow followed by the US 11.5% (against 10.9% in 2015), Germany - 3.4% (against 2.2% in 2015), France - 2% (compared to 1.3 % in 2015), United Arab Emirates 1.3% (against 1.5% in 2015), Kazakhstan - 1.2% (against 2.5% in 2015).  The share of the total outflow in volume Russia is followed by US - 10.3% (against 13.1% in 2015), China - 6.9% (against 7.6% in 2015), Germany - 2.9% (vs. 4.2% in 2015) and the UAE - 2.8% (against 5.5% in 2015). France share in outflows decreased from 2.4% to 1.8%.

According to the source, the inflow of transfers to Armenia declined in 2016 for the following countries as well: Kazakhstan - 2 times, Turkey - 28.6%, UAE - 19.8%, USA - 0.7%. The increase in transfers' inflow was registered from Ukraine - by 44.3%, France - 42.7%, in Ukraine - by 10.7%. As for the outflow, along with Russia, growth was registered on money transfers to Ukraine - by 23% and in Kazakhstan - 2 times, while for the remaining countries was recorded decline in United Arab Emirates - 2 times, Germany - 26 , 1%, France - 19.3%, USA - 15.8%.

In 2016, $ 176.6 million came through transfers from the United States, and from Armenia $ 83.9 million is sent. From Kazakhstan $ 18.9 million was received and sent $ 4.4 million, from the UAE $ 19.5 million was received, and sent $ 22.9 million from Armenia. The influx of transfers from Germany amounted to $ 52.1 million, and outflow from Armenia amounted $ 23.8 million, $ 30.4 million arrived from France and $ 14.6 million was sent. $ 56.6 million was sent to China from Armenia, more than came to Armenia - $ 2.9 million.  Inflow of transfers from Ukraine amounted $ 9.3 million, while the outflow from Armenia - $ 10.7 million.

According to CBA data, in 2015, the inflow of transfers of individuals decreased by 23.5% in Armenia - to $ 1.6 billion, while outflows declined by 16.2% to $ 0.8 billion. In 2015 inflow of transfers to Armenia from Russia declined by 36.1%, with an increase in the outflow from Armenia ito Russia by 0.7%. The dominant share of Russia by the end of 2015 in the inflow and outflow amounted 61.8% and 37.6%, respectively, declining compared the level of a year ago - 83% and 59.8%. According to the Armenian National Statistical Service, the economic activity in 2016 slackened the growth rate from 3.1% to 0.5%. At the same time the foreign trade dynamics improved in 2016 by 20.6% of decline to 7.4% growth, due to the exports from 3.9% decline to 20% growth and the imports - 26.5% decline to 1.6% growth.