15.Aug .2022 19:30

Remittance Flows to Georgia Increases 47%

Remittance Flows to Georgia Increases 47%
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In July 2022, the volume of money transfers to Georgia from abroad constituted 306.0 million USD (871.2 million GEL), which is 46.8% (97.6 million USD) more than the amount in July 2021, reads the recent data of the National Bank of Georgia (NBG). 

97.2% percent of the total money transfers from abroad came from 24 largest partner countries, with the volume of transfers from these countries each exceeding 1 million USD in July 2022. In July 2021 the share of these 24 countries constituted 92.8% percent of the total volume of money transfers.

Top three countries by inflows was as follows: Russian Federation - US$100.59 mln, share in the total inflow volume was 32.87%, annual growth rate was 150.75%; Italy - US$ 35.96 mn, share in total flow 11.75% and annual growth rate 7.91% and the USA - US$ 28.56 mln, share in total flow - 9.33% and annual growth 11.99%

In July 2022, 27.7 million USD (or 78.8 million GEL) was transferred from Georgia, which is 3.8% more as compared to 26.7 million USD in July 2021.