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.