The volume of remittances received by Georgia in July of the current year amounted to 301.1 million USD, which is 1.6% (5 million dollars) less than the figure of July 2022, National Bank of Georgia says.
Remittances have also decreased compared to the previous month, since in July 2023 the country received USD 353 million in the form of remittances. Accordingly, transfers are reduced by almost 15%.
According to the data of 7 months, a total of 2.6 billion USD were transferred to Georgia, of which remittances from Russia amount to USD 1.2 billion, that is, almost half of the total remittances.
In July, the largest volume of remittances was again transferred from Russia and its volume amounted to 7USD 3.8 million. In July 2022, the country received USD 100.5 million from Russia in the form of remittances, accordingly, annual remittances from Russia have decreased by almost 27%.
