PRIVATE REMITTANCES TO ARMENIA TOTAL $277.2 MLN IN Q1 2012

PanARMENIAN.Net
May 15, 2012 – 11:24 AMT

PanARMENIAN.Net – USD 277.2 mln was transferred to individuals through
the Armenian banking system in January-March 2012.

According to Armenian Central Bank’s monthly bulletin, 10.3% increase
was recorded as compared with the same period of 2011.

Besides, the amount of remittances from Armenia rose by 13.8%
in the reporting period, totaling $60.9 mln against $53.5 mln in
January-March 2011. In the first quarter of 2012, the net cash inflow
increased by 9.3% amounting to $1 216.3 mln against $197.9 mln in
January-March 2011.

In 2012 Q1, Russia keeps the biggest share of remittances to Armenia –
$192.1 mln, followed by the U.S. – $12.3 mln, Kazakhstan – $3.4 mln,
France -$1.3mln and Spain- $1mln.