BAKU, Azerbaijan, December 19. Money transfers from individuals in Azerbaijan amounted to $2.7 billion from January through September, which is 3.6 times more than in the same period of the previous year, Trend reports via the Central Bank of Azerbaijan (CBA).
The volume of money transfers in the first quarter of 2022 amounted to $239.9 million, while in the second quarter $1.3 billion. In the third quarter, the volume of money transfers amounted to $1.17 billion.
According to CBA, most transfers were made from Russia in the amount of $2.2 billion (an increase of 5.5 times), or 81.6 percent of all the money transfers from individuals.
The TOP-5 counties from which money transfers to Azerbaijan were made include the US - $137.5 million (an increase of 2.9 times), Türkiye - $89.14 million (an increase of 12.1 percent), Germany - $45.4 million (an increase of 2.6 times) and Kazakhstan - $24.5 million (an increase of 4.9 percent).
Money transfers from individuals in Azerbaijan increased by 29.6 percent from January through September 2022 compared to the same period last year - up to $521.516 million.