BAKU, Azerbaijan, March 30. The volume of money transfers of individuals to Azerbaijan in 2022 amounted to $3.6 billion, which is 3.2 times more than in 2021, Trend reports via the Central Bank of Azerbaijan (CBA).
In the first quarter of last year, the volume of money transfers to Azerbaijan amounted to $239.9 million, while in the second quarter, it reached $1.3 billion, and in the third quarter the volume of transfers amounted to $ 1.1 billion.
According to the CBA, most transfers, in the reporting period, made from Russia amounted to $2.9 billion (an increase of 4.8 times), which is 82 percent of all transfers of individuals.
At the same time, the TOP-5 countries from which money transfers of individuals were made to Azerbaijan also include transfers from the US amounting to $155 million (an increase of 2.1 times), Türkiye reaching $122 million (an increase of 13.3 percent), Germany amounting $53.5 million (an increase of two times) and the UK reaching $ 33.9 million (an increase of by 4.9 percent).
Furthermore, money transfers of individuals from Azerbaijan in 2022 increased by 0.5 percent to $664 million year on year.