Remittances from Russia to Armenia decreased by 36%

Moscow. February 1. Remittances received in 2015 in Armenia from migrants from the Russian Federation amounted to $916 million, a decrease compared to the 2014 year by 36.1%, is spoken in the message of the Central Bank of the Republic.

The share of Russia accounts for about 76% of all private transfers to Armenia.

The volume of transfers received from the United States, amounted to $119.4 million (growth by 15.2%).

The total amount of private transfers received in 2015 in Armenia through the banking system of the country in the name of individuals for non-commercial purposes decreased by 30% compared to 2014 year – up to $1.2 billion.

As reported, after the independence of Armenia migrated 1.2 million people, or about one-third of the population. 75% of them settled in Russia. On migrants ‘ remittances from Russia account for 20% of Armenia’s GDP.