16.Feb .2021 12:00

Italy replaces Russia and ranks the 1st by money transfers

Italy replaces Russia and ranks the 1st by money transfers
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The National Bank of Georgia (NBG) has published a report, according to it Russia does not occupy the 1st place among the largest countries by money transfers in Georgia. The largest volume of money transfers was made from Italy in January 2021.

The amount of money transfers entering Georgia in January 2021 was 149.8 million USD, which is a 19.2% increase compared to January 2020.

A total of 27.3 million USD was transferred from Italy to Georgia, which is a 29.7% growth comparing to the previous year. However, remittances from Russia are 11.4% down amounting to 23.2 million USD.

The largest countries from which money transfers entering Georgia were the following:

1. Italy - 27.32 million USD, increase of 29.72% y-o-y
2. Russian Federation - 23.18 million USD, decrease of 11.44% y-o-y
3. Greece - 18.62 million USD, increase of 25.25% y-o-y
4. US -18.07 million USD, increase of 33.24% y-o-y
5. Israel - 13.16 million USD, increase of 0.55% y-o-y
6. Turkey -7.16 million USD, increase of 8.54% y-o-y
7. Ukraine - 6.43 million USD, increase of 80.65% y-o-y
8. Germany - 6.06 million USD, increase of 57.15% y-oy
9. Azerbaijan - 5.32 million USD, increase of 213.08% y-o-y
10. Spain - 3.51 million USD, increase of 1.82% y-o-y
11. France - 2.39 million USD, increase of 32.79% y-o-y
12. Kazakhstan - 2.20 million USD, increase of 11.21% y-o-y
13. Poland - 1.95 million USD, increase of 2.94% y-o-y
14. Canada -1.46 million USD, increase of 53.67% y-o-y
15. United Kingdom - 1.37 million USD, increase of 15.59% y-o-y