YEREVAN. – In the first 8 months of 2011, individuals transfer $772 million to Armenia through the banking system for non-commercial purposes. As compared to the same period of the last year, transfers increased by about 25 percent.

The growth of transfers is mainly recorded in case of the transfers from Russia. In 2010, $494 million were transferred in 7 months, while in the same period of time this year $632 million have been transferred. According to the banking industry officials the growth of transfers is more seasonal. They say that the growth usually occurs in August and September. Compared to the same period of last year, transfers from Russia and United States increased.

According to the coordinator of Shirak Regional Centre for Migration Information, Alvard Minasyan, surveys show that during the 8 months of 2011 more people have left Armenia than in 12 months of 2010.