Finance

Finance

Money transfer from Russia to Azerbaijan halved - ANALYSIS

Money transfer from Russia to Azerbaijan halved - <span style="color: red;">ANALYSIS

18 March 2016 14:26 (UTC +04:00)

The money transfers between Russia and Azerbaijan fell $14 mln or 7.18% in the fourth quarter, $30 mln or 13.33% in the third quarter, $43 mln or 23.63% in the second quarter. If we compare the fourth quarter of 2015 with the first quarter, we’ll see the money transfer from Russia to Azerbaijan has declined $1 mln or 0.55%. Money transfers between Russia and Azerbaijan made $182 mln in the first quarter of 2015, $225 mln in the second quarter, $195 mln in the third quarter.

In the fourth quarter of 2015, $149 mln was transferred from Russia to Azerbaijan, down $116 mln or 43.77% from 2014. In October-December $485 mln was transferred from Russia to Azerbaijan. Remind that in 2014, the money transfer from Russia to Azerbaijan amounted to $265 mln. Average money transfer on per operation made $585.

In comparison to the third quarter of 2015, the money transfers from Russia to Azerbaijan declined $13 mln or 8.02% in the fourth quarter. The money transfer from Russia to Azerbaijan fell $28 mln or 14.74% in the third quarter, increased $64 mln or 50.79% in the second quarter. Remind that $126 mln (averagely $419 on per operation) was transferred to Azerbaijan in the first quarter, $190 mln (averagely $519 on per operation) in the second quarter, $162 mln (averagely $504 on per operation) in the third quarter.

Regarding money transfers from Azerbaijan, $32 mln (averagely $551 on per operation) was transferred from Azerbaijan to Russia in the fourth quarter, down $31 mln or 49.21% from a year earlier. In other word, $63 mln (averagely $751 on per operation) was transferred from Azerbaijan to Russia in the fourth quarter of 2014.

Compared to the 3^rd quarter of, the money transfer from Azerbaijan to Russia declined $2 mln or 5.88% in the 4^th quarter. By contrast to the first quarter of 2015, the money transfer slid $21 mln or 37.5% in the 2^nd quarter. So, $35 mln was transferred from Azerbaijan to Russia in the 2^nd quarter of 2015, while it was $56 mln in the 1^st quarter. Average sum on per operation made $700 in Q1, $568 in Q2 and $666 in Q3.

Generally, money transfers by individuals between Azerbaijan and Russia dropped 1.8 times in 2015. In other word, the money transfer amounted to $782 mln in 2015, while it was $ $1,402,000,000 in 2014.

Thus, in 2015 $627 mln (averagely $484 on per operation) was transferred from Azerbaijan to Azerbaijan, $155 mln (averagely $626 on per operation) from Azerbaijan to Russia. Remind that in 2014 $1,221,000,000 (averagely $626 on per operation) was transferred from Azerbaijan to Azerbaijan, $188mln (averagely $752 on per operation) from Azerbaijan to Russia. In other word, money transfer from Russia to Azerbaijan in 2015 shed 1.9 times.

Moreover, $2,370,000,000 was transferred from Russia to Uzbekistan, $16 mln to Turkmenistan. Azerbaijan ranks at 7^th.

Sum of money transfers from Russia to CIS countries in 2015

		Transfers to Russia		Transfers from Russia		Turnover
		Sum of transfers ( mln, USD)	Average sum on per operation (USD)	Sum of transfers, (mln. USD)	Average sum on per operation (USD)	Sum of transfers, (mln. USD)
CIS countries		2,384	*686*	7,978	*322*	10,362
	Uzbekistan	357	1,487	2,370	432	2,728
	Tajikistan	224	795	1,278	224	1,502
	Kyrgyzstan	288	966	1,083	317	1,372
	Ukraine	157	249	988	234	1,146
	Kazakhstan	796	748	318	626	1,115
	Armenia	172	904	682	353	854
	Azerbaijan	155	626	627	484	782
	Moldova	80	657	472	298	553
	Belarus	88	302	143	241	231
	Turkmenistan	65	602	16	401	80