BAKU, Azerbaijan, July 17. The volume of money transfers of individuals from Saudi Arabia to Azerbaijan amounted to $5.9 million in the first quarter of 2025.
The data obtained by Trend from the country's Central Bank show that this figure amounted to $2.02 million, or 51.5 percent more than the same period of last year. Thus, from January through March 2024, the volume of remittances from Azerbaijan's individuals to this country amounted to $3.9 million.
Over the reporting period, the share of Saudi Arabia in the total volume of remittances to Azerbaijan from abroad amounted to 2.6 percent.
In general, the volume of remittances made by individuals from Azerbaijan to foreign countries in the first quarter of 2025 totaled $112.6 million. This is by $18.8 million or 14.3 percent less than the same period of 2024.
Meanwhile, the volume of remittances of individuals to Azerbaijan from abroad for the reporting period amounted to $229.4 million, which is $64.9 million or 22.1 percent less than the figure for the first quarter of 2024.