Increase in money outflow from Armenia conditioned by unprecedented growth in import volumes of cars

YEREVAN, SEPTEMBER 3, ARMENPRESS. The flow of monetary transfers from Armenia increased by almost two times in June 2019 compared to June 2018, comprising 126 million 400 thousand USD, and the volume of remittances to Armenia decreased by nearly 1.4%.

The Central Bank of Armenia released the statistics of monthly transfers to and from Armenia as of June.

In June 2019, compared to June 2018, the volume of monetary transfers to Russia increased by 7% and that to the US by 2.4 times. The CBA said the increase in flow is mainly conditioned with the unprecedented increase in import volumes of vehicles.

The inflow of monetary transfers has decreased by nearly 1.4% in the observing period.

In the first half of 2019, compared to the same period of 2018, the inflow of monetary transfers increased by 10%, and the outflow of money transferred from Armenia by 18.8%.

Edited and translated by Aneta Harutyunyan