In October, remittances sent to Georgia increased by 13.4% year-on-year, reaching USD 318.7 million. Meanwhile, funds transferred from Georgia rose by 14.5%, totalling USD 40.8 million, according to a report from the National Bank of Georgia.
The central bank noted that the growth was primarily driven by remittances from the European Union, which rose 15.0% year-on-year. Remittances from the United States also continued to grow, increasing by 16.5%. Russia contributed positively as well, accounting for 2.5% of the growth in October.
“In October, the main sources of remittances were the European Union countries (44.9% share), the USA (18.6%), and Russia (13.0%). Among EU countries, Italy (16.7%), Germany (9.3%), and Greece (8.1%) had notably high shares,” the National Bank of Georgia reported.
