Money transfers to Armenia have decreased
May 02 2025, 18:00
Official statistics have long recorded a decline in money transfers to individuals via Armenian banks. This trend continued in March and throughout the first quarter of 2025.
In March 2025, inflows decreased by $17.036 million, compared to the same month last year. In contrast, outflows increased by $51.5 million, resulting in a net inflow reduction of $68.5 million. Total net inflows for the first quarter of this year dropped by 1.9 times, compared to the first quarter of the previous year.
At the same time, the main directions of money transfers remained practically unchanged. The largest sum was transferred to Armenia from Russia ($250.9 million), followed by the United States with a significant gap ($65.2 million). Regarding outflows, Switzerland ranked first.
Possible reasons for the decline in cash flows include the fading impact of external factors linked to the Russian-Ukrainian war, growing distrust in the economy and economic policy, and anti-Russian sentiments among authorities.
In any case, the reduction of inflows to Armenia is a negative economic factor.
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