ArmInfo. The net inflow of private transfers to Armenia increased by 47.7% per annum in the first quarter of 2021. Head of the Department of Macroeconomics of the Central Bank of Armenia Armen Nurbekyan said this at a press conference on May 4, noting that in March alone, the net inflow of transfers increased more than 2-fold.
In total, according to A. Nurbekyan, the net inflow of transfers in March this year amounted to $ 65.9 million, and in the first quarter - $ 129.1 million.
To note, according to the Central Bank of Armenia, the inflow of transfers from individuals amounted to $ 405.6 million in the first quarter of 2021, with the annual dynamics coming out of the 9.7% decline to 14.7% growth. The outflow of transfers also emerged from the 7.1% decline, but to a more modest 3.9% growth, amounting to $ 276.5 million in the first quarter of this year.
In the inflow and outflow, transfers to Russia remained in a downtrend with a slowdown in annual rates to 6.3% and 0.8%, respectively, which increased the dynamics of net inflow to minus 12.5% - to $ 68 million (with an inflow of $ 154 million and outflow of $ 86 million). At the same time, the inflow of transfers from the United States accelerated growth from 9.7% to 87.3%, amounting to $ 118 million, and the outflow came out of a 34.3% decline by 27% growth, amounting to $ 44 million, which increased net inflow 2.6-fold - to $ 74 million. The share of Russia in the inflow decreased in the first quarter of 2021 to 38% from 46.5% in the first quarter of 2020, while the share of the United States increased from 17.8% to 29.1%. The situation is the same in the outflow: the share of Russia decreased from 32.6% to 31.1%, while the share of the United States increased from 13% to 15.9%.
In March 2021 alone, the inflow of transfers from individuals to Armenia accelerated growth to 21.1%, while the dynamics of the outflow reversed from growth to 7.1% decline, as a result of which the net inflow, after the February decline, jumped 2.1-fold in March ... Moreover, in the direction of Russia, inflow and outflow in March showed an increase of 20.1-28.8%, and in the direction of the United States, an increase in inflow by 23.8% was accompanied by a decline in outflow by 2.2%.
