In August 2024, there was a significant increase in the volume of money transfers to Armenia.
According to the Central Bank of Armenia, individuals received $551.3 million through commercial banks, which is 6.5% higher compared to the same period last year and 16.7% higher than in August 2022.
It is reported that the volume of money transfers grew by 13.5% compared to the previous month.
Along with the rise in incoming transfers, there was also a substantial increase in the outflow of funds. In August 2024, individuals transferred approximately $519.3 million abroad via Armenian banks. This figure is 61% higher than the previous month and 64.8% higher than in August last year.
Despite the overall growth in transfer volumes, the net inflow of funds to Armenia, representing the difference between inflows and outflows, amounted to $32.1 million in August 2024.
This figure decreased by 80.4% compared to the previous month, indicating a significant increase in the outflow of funds from the country.
