Tuesday, October 31 2017 16:33
Karine Melikyan

In Armenia, the annual dynamics of the inflow of transfers came in Jan-Sep 2017 from a decline to growth, but the ascent of the outflow accelerated sharply

ArmInfo. The inflow of  transfers of natural persons to Armenia increased by 16.4% per annum  in Jan-Sep 2017 to $ 1.235 billion, with an outflow of 23.6% to $  698.5 million. As a result, the net inflow increased by 8.1% to $  496.1 million. According to the Central Bank of Armenia, the share of  Russia in the inflow is 60.3% or $ 744.8 million, and in the outflow  - 38.1% or $ 266.1 million. The inflow of transfers from Russia  increased in January-September by 16.5% per annum with an increase in  outflows by 10.3%, which was increased by a net inflow from Russia by  20.2%.

By way of comparison, a year earlier - in Jan-Sep 2016 the inflow of  transfers of individuals to Armenia decreased by 10.9% per annum with  an outflow of 5.5%, which reduced the net inflow by 24.4% per annum.  At that time, the share of Russia in the inflow decreased from 62.9%  to 60.3%, due to a 14.7% drop in the absolute value, and in the  outflow, on the contrary, increased from 35.3% to 42.7% as a result  of the absolute growth of 27.5%.

According to the money transfers of individuals, the Central Bank of  Armenia, considering lower than expected growth rates in the first  half of this year, when the net inflow increased by 11.1% per annum,  revised its forecast for growth in 2017 in the direction of  deceleration - from the previous 14-16% to the current 12-14%. And  this updated range of the regulator caused a slow recovery in  Russia's economy due to the extension of US sanctions and the  resulting reduction in investment.  For 2016 the inflow of transfers  of individuals to Armenia decreased by 6.1% per annum to $ 1.5  billion, with an outflow of 7.4% per annum to $ 817 million. As a  result, the net inflow of transfers of individuals decreased by 17.8%  per annum. The inflow of transfers from Russia to Armenia decreased  by 11.1% in 2016 to $ 896.9 million, with an outflow of 16.5% to $  333.4 million, which generated a net inflow of transfers from Russia  at $ 563.5 million with an annual decline of 22% . In the inflow and  outflow of transfers, the dominant in 2016 was held by Russia - 58.5%  and 40.8%, against 61.8% and 37.6% a year earlier.

According to the National Statistical Service of the Republic of  Armenia, economic activity in Jan-Sep 2017 increased by 5.1% per  annum, with exports growing by 19.1% and imports by 23.2%. A year  earlier, in Jan-Sep 2016, growth in economic activity was observed at  1.6% per annum, with exports growing by 19.6% and slowing down the  decline in imports to 0.8%. In 2016, economic activity slowed the  growth rate from 3.2% to 0.2%. At the same time, foreign trade  turnover improved dynamics in 2016 from 20.6% decline to 7.4% growth,  due to exports from the 3.9% decline to 20% growth and imports from  26, 5% decline in 1.6% growth.

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