Remittances to Armenia drop 3% in January-October 2010

December 7, 2010 - 16:46 AMT

PanARMENIAN.Net - Remittances at the amount of $1101.2mln were received by physical persons in Armenia in January-October 2010.

According to the CBA monthly bulletin, the figure decreased by 3% ($38.6 million) compared to the same period in 2009.

The largest amount of remittances was received from Russia ($868.2 million), followed by the United States ($99.3 million) and United Arab Emirates $22.5 million). At the same time, remittances from Turkey amounted to $2103thous.

Besides, 4.7% drop was recorded in the amount of remittances from Armenia, totaling $580mln in January-October 2010 against $608.8mln during the same period of last year.

The net cash inflow decreased by 1.4% during the reporting period, amounting to $687.2mln against $697mln in January-October 2009.

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