Money transfers to Georgia increased by 13.7% y/y to US$ 183.4mn in Feb-22, according to NBG, after growing by 12.7% y/y in previous month.
From major remitting countries, money transfers increased strongly from Italy (+15.4% y/y, 18.0% of total), USA (+10.3% y/y, 11.5% of total), Israel (+1.2% y/y, 7.7% of total), Kazakhstan (+680.7% y/y, 7.5% of total) and Germany (+61.9% y/y, 6.2% of total), while transfers declined from Russia (-12.7% y/y, 12.0% of total), Greece (-21.5% y/y, 8.4% of total), Turkey (-14.1% y/y, 4.0% of total), Ukraine (-31.4% y/y, 2.8% of total) and Azerbaijan (-19.6% y/y, 2.6% of total).
Overall, in 2M22 remittances increased by 13.2% y/y to US$ 352.3mn, Weekly Market Watch of Galt and Taggart reads.
