15.May .2020 18:05

Money transfers to Georgia down 42.3% in April

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Georgia received $79.1 million from abroad in April 2020, which is 42.3 per cent less than the amount in April 2019, says the National Bank of Georgia (NBG).

The vast majority (89.6%) of all money transfers from abroad came from 12 countries, with the volume of transfers from these countries each exceeding $1 million last month. The share of these 12 countries constituted 89 per cent of the total volume of money transfers.

Italy, Russia and Greece were the largest remittance senders in Georgia in April 2020. Georgia received $13.36 million from Italy, $13.12 million from Russia and $10.15 million from Greece.

After Italy, Russia and Greece, other countries regularly sending money transfers to Georgia in April 2020 included:

• United States – $9.74 million
• Israel – $6.87 million
• Turkey – $5.33 million
• Germany – $3.73 million
• Azerbaijan – $2.44 million
• Ukraine – $2 million
• Spain – $1.59 million
• Poland – $1.47 million
• France – $1.02 million

In April 2020, remittances leaving Georgia totalled $10 million, which is a 47.7 per cent increase year-on-year.