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Individuals’ remittances from Azerbaijan to Russia decrease

Finance Materials 17 March 2022 14:25 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, March 17. According to the results of 2021, money transfers of individuals from Azerbaijan to Russia decreased by 20.9 percent compared to 2020 ($148.39 million to $117.248 million,) Trend reports with reference to the statistics of the Central Bank of Azerbaijan (CBA).

According to the CBA, money transfers from Azerbaijan in 2021 as a whole increased by 18.86 percent compared to the previous year ($556.5 million) - up to $661.5 million.

According to the results of 2021, Russia took second place in terms of the volume of money transfers from Azerbaijan.

Remittances of individuals from Russia to Azerbaijan amounted to $623.057 million in 2021, which is 2.8 percent more than in 2020 ($606.056 million).

According to the results of last year, Russia ranked first in terms of remittances to Azerbaijan.

According to the CBA, money transfers to Azerbaijan in 2021 as a whole increased by 3.6 percent compared to the previous year ($1.094 billion) - up to $1.133 billion.

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