15.Apr .2020 18:04

Volume of money transfers from abroad decreased by 9 % y/y in March

Volume of money transfers from abroad decreased by 9 % y/y in March
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The volume of money transfers from abroad constituted 125.9 million USD (382.7 million GEL) in March, which is 9.0% (12.5 million USD) less compared to the same period of the last year.

According to the National Bank of Georgia, 92.8% percent of the total money transfers from abroad came from 16 largest partner countries, with the volume of transfers from these countries each exceeding 1 million USD in March 2020. In March 2019 the share of these 16 countries constituted 92.6% percent of the total volume of money transfers.

Money Transfers by Countries:

1 Russian Federation - $ 25.39 million, down from the previous year - 28.32%;
2 Italy - $ 17.31 million, down from the previous year -8.66%;
3 Greece - $ 16.24 million, an increase of 1.81% over the previous year;
4 US - $ 15.1 million, an increase of 2.31% over the previous year;
5 Israel - $ 11.78 million, down 10.22% from the previous year;
6 Turkey - $ 8.27 million, down from the previous year -0.14%;
7 Germany - $ 4.94 million, an increase of 26.37% over the previous year;
8 Ukraine - $ 3.61 million, an increase of 16.21% over the previous year;
9 Spain - $ 3.15 million, down 18.56% from the previous year;
10 Azerbaijan - $ 2.38 million, an increase of 45.38% over the previous year;
11 Poland - $ 2.08 million, down 11.56% from the previous year;
12 France - $ 1.67 million, down 1.875% from the previous year;
13 United Kingdom - $ 1.54 million, an increase of 12.67% over the previous year;
14 Kazakhstan - $ 1.22 million, down from the previous year -0.98%;
15 Cyprus - $ 1.08 million, an increase of 3.13% over the previous year;
16 Canada - $ 1.01 million, decrease of -6.55% comparing to the previous year.

In March 2020, 20.4 million USD (or 62.1 million GEL) was transferred from Georgia, which is 10.1% more as compared to 18.5 million USD in March 2019.