Russian remittances drive major share of Armenia’s GDP

Remittances from Russia continued to play a crucial role in Armenia’s economy in 2025, accounting for nearly one-eighth of the country’s gross domestic product, data from the Central Bank of Armenia confirmed.

The figures show that individuals in Russia transferred a total of $3.87 billion to Armenia during the year, making Russia by far the largest source of remittances to the South Caucasus nation, Caliber.Az reports, citing Russian media.

For comparison, Armenia’s GDP amounted to $29.2 billion over the same period, according to data previously reported by Armenian media, underscoring the significant contribution of transfers from Russia to the country’s economy.

The United States ranked as the second-largest source of remittances, with transfers totaling $733 million. Other major contributors included the United Kingdom ($207 million), Switzerland ($131 million), the United Arab Emirates ($105 million), and Germany ($100 million).

By  Vafa Guliyeva