BAKU, Azerbaijan, March 24. Remittances sent by individuals from Azerbaijan to Switzerland amounted to $6.5 million last year.
Data obtained by Trend from the Central Bank of Azerbaijan indicates that this figure went down by $1.45 million, or 18.2 percent, compared to 2023.
Switzerland's share in Azerbaijan’s total remittances for the reporting year made up 1.2 percent.
Last year, remittances from individuals from Switzerland to Azerbaijan totaled $10.16 million, which is $1.03 million, or 11.3 percent more than the 2023 figure.
In 2023, the volume of remittances from individuals from Azerbaijan to Switzerland amounted to $7.98 million, and in the opposite direction - $9.1 million.
Overall, remittances from individuals from Azerbaijan abroad in 2024 totaled $526.76 million, marking a decrease of $23.4 million, or 4.2 percent, from the previous year.
Meanwhile, the volume of money transfers from individuals to Azerbaijan from foreign countries in the reporting year amounted to $1.08 billion, which is $571.9 million, or 34.6 percent less than the figure for 2023.
