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YEREVAN. – Turkey plays an insignificant role in non-commercial remittances to individuals in Armenia. 

Between January and September, Turkey’s respective share totaled a mere 0.15 percent and this did not exceed 1 percent, in remittances from Armenia to that country.

But Turkey’s role as the place of business of Armenia’s merchants is growing and it has reached all the way up to 1.7 percent, from January to September.

The remittances from Armenia to Turkey, however, have reduced considerably in recent years. They have fallen by up to 1.8 times and totaled $17.4 million, in six years.

But the difference between the respective inflow and outflow still remains high.

During the noted period, Armenia’s importers have begun buying more Turkish goods from outside Turkey. 

Imports directly from Turkey, however, have dropped by approximately 20 percent, or by over $31 million.

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