BAKU, Azerbaijan, March 30. The volume of remittances by individuals from Azerbaijan to India amounted to $2.46 million in 2024.
Data obtained by Trend from the Central Bank of Azerbaijan indicates that this figure increased by $55,000 (2.3 percent) compared to 2023.
India accounted for 0.5 percent of the total remittances from Azerbaijan in the reporting year.
Remittances from individuals in Azerbaijan to India totaled $2.4 million in 2023.
Overall, the total remittances sent from Azerbaijan to foreign countries amounted to $526.8 million in 2024, reflecting a 4.2 percent decrease compared to 2023, a drop of $23.4 million.
Meanwhile, the volume of remittances received by Azerbaijan from abroad in the reporting year was $1.08 billion, marking a 34.6 percent decrease, or $571.9 million less, compared to 2023.