BAKU, Azerbaijan, March 17. According to the results of 2021, money transfers of individuals from Azerbaijan to Russia decreased by 20.9 percent compared to 2020 ($148.39 million to $117.248 million,) Trend reports with reference to the statistics of the Central Bank of Azerbaijan (CBA).
According to the CBA, money transfers from Azerbaijan in 2021 as a whole increased by 18.86 percent compared to the previous year ($556.5 million) - up to $661.5 million.
According to the results of 2021, Russia took second place in terms of the volume of money transfers from Azerbaijan.
Remittances of individuals from Russia to Azerbaijan amounted to $623.057 million in 2021, which is 2.8 percent more than in 2020 ($606.056 million).
According to the results of last year, Russia ranked first in terms of remittances to Azerbaijan.
According to the CBA, money transfers to Azerbaijan in 2021 as a whole increased by 3.6 percent compared to the previous year ($1.094 billion) - up to $1.133 billion.
