Individuals sent US$561 million in bank remittances to Armenia from overseas during the first quarter of this year, an increase of 38% over the same period in 2021.

Armenia’s Central Bank data shows that 55% of the money came from Russia and 21% from the United States.

Remittances from Armenia abroad also increased.

 In the first three months of this year, individuals sent some $374 million from Armenia abroad through banks, an increase of 37% over last year.

44% of the remittances went to Russia and 38% to the United States.