In June 2018, remittances increased by 14.8% YoY, or by 17 mln USD. Growth expressed in EUR and GEL stood at 10.2% and 17.0%, respectively. Higher remittances were mostly driven by increased transfers from Italy (+32.2% YoY) and Israel (+27.3% YoY). From the regional perspective, remittances in USD terms increased from EU (+30.1% YoY), CIS (+1.4% YoY) and other countries (+17.0% YoY). Low growth from CIS region in USD equivalent was mostly due to the slight decline of remittances from Russia (-0.6% YoY).
Source : TBC Research
