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TOP-5 countries by volume of money transfers from Azerbaijan revealed

Finance Materials 16 September 2022 11:33
Baku, Azerbaijan Trend News Agency
TOP-5 countries by volume of money transfers from Azerbaijan revealed

Money transfers of individuals from Azerbaijan increased by 17.4 percent from January through June 2022 compared to the same period the previous year, Trend reports via the Central Bank of Azerbaijan (CBA).

According to CBA, in the reporting period, Türkiye ranked first among countries with the most volume of money transfers from Azerbaijan with $90.7, which is 29.4 percent more than in the same period of 2021.

Türkiye accounted for 30.2 percent of all transfers from Azerbaijan.

Russia is second on the list with $44.8 million (decrease of 18.2 percent) and Georgia ranked third with $31.6 million (decrease of 15.2 percent).

TOP-5 countries with the largest money transfers from Azerbaijan from January through June 2022:

Country

Amount (million USD)

Türkiye

90.7

Russia

44.8

Georgia

31.6

US

29.5

UK

17.8

The volume of money transfers of individuals from Azerbaijan amounted to $1.6 million for the first half of 2022, which is 3.3 percent more than in the same period 2021.

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