17:40 - 10.06.2022

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July 10, Fineko/abc.az. Money transfers of individuals to Azerbaijan in the first quarter of 2022 amounted to $239.97 million (5.9% more against Q1 of 2021), ABC.AZ reports with reference to the Central Bank.

The most transfers were made from Russia - $99.703 million (decline of 16.9%) or 41.5% of all transfers of individuals (for Jan-Mar 2021, the share was 52.9%).

The five countries from which transfers of individuals were made to Azerbaijan also include: the U.S. - $32.876 million (2.8-fold growth), Turkey - $23.418 million (17.8% growth), Germany - $12.144 million (2.4-fold growth) and Kazakhstan - $7.886 million (1.5% decline).

Transfers from Azerbaijan abroad Jan-March 2022 increased by 24.3% to $151.548 million.

Among the countries to which money transfers were made by individuals from Azerbaijan, Turkey ranks first - $40.9 million (a rise of 22.1%). 27% of all transfers from Azerbaijan in the quarter (Jan-Mar 2021 - 27.5%) accounted for Turkey.

Transfers from Azerbaijan to Russia amounted to $20.68 million (decline of 20.3%), the share was 13.6% (a year earlier - 21.3%).