In its recent report, the National Bank of Georgia (NBG) announced that in January, the total volume of remittances sent to Georgia increased by 16.6% year-on-year, reaching USD 282.6 million. During the same period, the amount of funds sent from Georgia increased by 10.2%, amounting to USD 31.2 million.
According to the National Bank, the main contributor to this growth, accounting for 7.9 percentage points, was remittances from the European Union, which experienced an annual increase of 17.5%. Remittances from the United States continued their upward trend, increasing by 10.0%. Additionally, remittances from Russia contributed positively, adding 3.3 percentage points to the overall growth.
In January, the main sources of remittances were the European Union countries (45.4%), the United States (18.4%), and Russia (11.9%). Among the EU nations, Italy’s significant share (18.8%), along with Germany (8.5%) and Greece (7.9%), is particularly noteworthy, the report states.
