ArmInfo.Outflow for 2019 transfers of individuals increased by 22.4 per annum to $ 1.455 billion, with an increase in inflows of 9.7% to $ 1.959 billion. According to the Central Bank of Armenia, this reduced net inflows for the year by 15.5% to $ 504 million.
Moreover, the inflow of transfers from Russia to Armenia in 2019 went up by 0.6% per annum, with the outflow dynamics reversing towards a decline of 9.7%, while in the US direction, a moderate increase in inflow was accompanied by a significant increase in outflow - 25.4% against 44% As a result, the net inflow of transfers from Russia went up 9%, remaining at a positive level, while from the United States, on the contrary, it turned in the direction of a 82% decline, remaining at a positive level.
In 2019, the share of Russia in the inflow structure decreased from 58.8% to 53.9%, which was also observed in the outflow - a decrease in the share from 39.7% to 29.3%. In 2019, $ 1.056 billion was transferred from Russia to Armenia through the transfers of individuals, and $ 425.984 million was leaked to the Russian Federation. From the United States, $ 280.911 million was received from the United States through private transfers over the year, and $ 274.974 million was leaked to the United States.
In the forecast updated in December, the Central Bank of Armenia once again narrowed the expected range of growth in the net inflow of private transfers for 2019 to 0-2%, against the previously worsened forecast range from 5-7% to 1-3%. But for 2020, the Central Bank predicts a recovery in the growth rate of individuals' money transfers to 7-9%, due to the positive growth trends in the Russian economy, from where the dominant volume of private transfers comes to Armenia.
According to the statistics of the Central Bank, in 2018, the inflow of transfers of individuals to Armenia slowed down the growth to 1.6% from 14.6% in 2017, amounting to $ 1.785 billion. At the same time, the growth rate of the outflow of transfers slowed slightly - from 21.2% in 2017 to 20% in 2018, amounting to $ 1.188 billion. This worsened the dynamics of the net inflow of transfers from 7.1% growth in 2017 to a 22.2% decline in 2018, forming at the level of $ 596.726 million. In the inflow, Russia's share decreased in 2018 from 60 , 6% to 58.8%, and in outflow, on the contrary, increased from 38% to 39.7%.
