Individual bank remittances sent from Armenia to recipients overseas amounted to US$74.3 million – a 74.3% rise when compared to the $32 million individuals sent to Armenia in January 2017.

Armenia’s Central Bank reports that $28.3 million of the above amount was sent to recipients in Russia; an $11.7 million increase over January 2017.

The United States was the next largest recipient - $13.6 million, followed by China ($6.9 million), UAE ($2.9 million) and Germany ($1.9 million).

Individual remittances to Armenia from overseas also increased this January when compared to a year ago, amounting to $94.672 million.

This is an increase of 12.3% over January 2017.

$51.8 million was sent from Russia, followed by the U.S ($12.3 million), Germany ($3 million), France ($2.2 million) and the UAE ($1.5 million).