$1 547 mln was transferred to individuals through the Armenian banking system in January-December 2011.

According to the RA Central Bank’s monthly bulletin, 19,6% increase was recorded as compared with the same period of last year, with private remittances totaling $166,4 mln. in December 2011.

Besides, the amount of remittances from Armenia increased by 19,3% to total $264,6 mln in January-December 2011 against $221,8 mln. of the same period of 2010. During the reported period, the net cash inflow increased by 19,6% amounting to $1 282,4 mln against $1 072 mln in January-December 2010.

Meanwhile, Russia keeps the biggest share of remittances to Armenia - $1153,8 mln, followed by the U.S. - $47 mln, Kazakhstan - $18,8 mln and Ukraine - $8,8.