15.Nov .2019 15:54

Russia is Still the Leader by Remittances, while Transfers Are Declined

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In October 2019, the volume of the money transfers from abroad constituted 153.2 million USD (GEL 454.3 million GEL), which 11.5% (15.8 million USD) compared to October 2018.

Remittances from Russia decreased by 4.5% compared to the same period of the previous year, while they remain on the first place by total money transfers. Remittances from Russia accounted for 24.7% of total transfers, followed by Italy with 13.7% and Greece with 10.4%.

To note, 37.7% of total transfers accounted for the EU, while 62.2% - on the rest.

93.9% percent of the total money transfers from abroad came from 18 largest partner countries, with the volume of transfers from these countries each exceeding 1 million USD in October, 2019.

In October, 2019, 22.5 million USD (or 66.6 million GEL) was transferred from Georgia, which is 5.9% more comparing to 21.2 million USD in October, 2018.