The National Bank of Georgia published money transfer statistics for September 2023.
In September 2023, the volume of money transfers from abroad constituted 283.9 million USD (751.0 million GEL), which is 26.7% (103.3 million USD) less than the amount in September 2022.
95.8% percent of the total money transfers from abroad came from 23 largest partner countries, with the volume of transfers from these countries each exceeding 1 million USD in September 2023. In September 2022 the share of these 23 countries constituted 94.4% percent of the total volume of money transfers.
TOP-10 Countries By remittances
1. Russian Federation - $59 million, down 66% from last year
2. Italy - $43 million, an increase of 19% over the previous year
3. US - $41 million, an increase of 44% over the previous year
4. Germany - $21 million, an increase of 33% over the previous year
5.Greece - $20 million, an increase of 11% over the previous year
6. Kazakhstan - $18 million, an increase of 81% over the previous year
7. Israel - $17 million, an increase of 4% over the previous year
8. Turkey - $9 million, a decrease of -7% compared to the previous year
9. Spain - $5 million, an increase of 11% over the previous year
10. Ireland - $5 million, an increase of 90% over the previous year
According to the statistics published by the National Bank, the Russian Federation is still on the first place in remittances, although the volume of remittances from Russia decreased by 66%, or by USD 114 million, which indicates a decrease in the financial impact of Russian migration in the country. Instead, remittances from Italy, the USA, Germany and Greece are increasing, from which funds are mainly sent by Georgian migrants.
In September 2023, 28.9 million USD (or 76.5 million GEL) was transferred from Georgia, which is 9.5% less as compared to 32.0 million USD in September 2022.
