Money transfers into Georgia reach $89.9m in October

Georgia is experiencing less financial inflow from abroad.

The sum of money transfers coming into Georgia in October 2015 was 27.4 percent less year-on-year (y/y), official figures reveal.

National Bank of Georgia (NBG) published latest figures about remittances, which showed the sum of money transfers from abroad constituted $89.9 million USD (215.2 million GEL) in October 2015. This was a $34 million USD reduction than in October 2014.

NBG said 92.7 percent of all remittances from abroad came from 14 big donor countries, with the volume of transfers from each of these exceeding one million USD in October 2015.

In October 2014 the share of remittances from these 14 countries constituted 93.6 percent of the total sum of money transfers into Georgia.

Last month $15.1 million USD (36.1 million GEL) was transferred out of Georgia, while $17 million USD (29.9 million GEL) was sent out of the country in October 2014.