Remittances to Georgia slows, figures show
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Georgia is experiencing less financial inflow from abroad.
The sum of money transfers coming into Georgia in July 2015 was 31.8 percent less year-on-year (y/y).
Today National Bank of Georgia (NBG) published latest figures about remittances. The data revealed the sum of money transfers from abroad constituted $93.4 million USD (210.7 million GEL) in July 2015. This was a $43.5 million USD reduction than in July 2014.
NBG said about 90 percent of all remittances from abroad came from 12 big donor countries, with the volume of transfers from each of these exceeding 1 million USD in July 2015.
In July 2014 the share of these 12 countries constituted 93.2 percent of the total volume of money transfers.
Last month $13.1 million USD (29.6 million GEL) was transferred out of Georgia, while $15.2 million USD (26.7 million GEL) was sent out of the country in July 2014.
Despite the ongoing financial crisis in Greece the country is still among the top donor countries in terms of volume of money transfers to Georgia, lagging only behind Russia.
Russia, Greece and Italy top the 12 big donor countries with the volume of money transfers to Georgia.
Georgia is experiencing less financial inflow from abroad. The sum of money transfers coming into Georgia in September 2015 was 32.9 percent less year-on-year (y/y), official figures reveal.
The sum of money transfers coming into Georgia in October 2015 was 27.4 percent less year-on-year (y/y), official figures reveal.
The sum of money transfers coming into Georgia in November 2015 was 18.3 percent less year-on-year (y/y), official figures reveal.
The sum of money transfers coming into Georgia in January 2016 was 11.8 percent less year-on-year (y/y), official figures reveal.
Russia, Italy and Greece top the 12 big donor countries from where Georgia receives the largest amount of remittances.
The sum of money transfers coming into Georgia in March 2016 was 1.3 percent less year-on-year (y/y), official figures reveal.
Georgia receives $94.8m from 12 donor countries
Georgia is receiving more money from abroad, shows latest figures from the National Bank of Georgia (NBG).