In May 2024, individuals received money transfers from abroad amounting to approximately $416 million through commercial banks in Armenia, which is 4.5% less than in the same month last year.
However, compared to May 2022 and 2021, the volume of transfers increased by 0.9% and 2.4 times, respectively.
According to data from the Central Bank of Armenia, the volume of money transfers during this period decreased by 9.1% compared to April 2024.
The outflow of funds through commercial banks in May amounted to over $294.1 million, which is 28% less than in April and 24.2% less than in May 2023.
Net inflow of money transfers to Armenia, reflecting the difference between inflow and outflow, amounted to $121.8 million in May 2024, which is 2.5 times more than in April.
