The volume of remittances in the country 2020 amounted to $ 131.8 million (421.6 million GEL) in May, which is 9.6% (13.9 million US dollars) less comparing to May 2019. The main reason for the decline is the economic shock caused by COVID-19.
According to the National Bank, the sharpest decline is noted from the Russian Federation, $ 19.77 million was transferred in May, which is 43% less comparing to the same period of the previous year. The volume of remittances from Italy increased by 35% instead of decreasing.
1. Italy - $ 27.59 million, an increase over the previous year - 35.82%
2. Greece - 18.82 million dollars, an increase over the previous year - 13.06%
3. Russian Federation - $ 19.77 million, down from the previous year - -43.18%
4. US - $ 15.21, up from the previous year - -4.76%
5. Israel - $ 11.38 million, down from the previous year - -17.19%.
6. Germany - $ 5.34 million, an increase over the previous year - 26.14%
7. Spain - $ 3.23 million, down from the previous year - -22.80%
8. Poland - $ 2.02 million, down from the previous year - -24.80%
9. France - $ 1.86 million, down from the previous year - -20.60%
10. UK – $1.03 million, down from the previous year - -30.61%.
