Remittances to Georgia drops slightly in May 2016

The National Bank of Georgia (NBG) has today released May 2016 statistics about the amount of money transferred into Georgia from abroad. 

The Bank said remittances last month amounted to $92.9 million, which was a decreased of $4.8 million or 5 percent compared to May 2015.

NBG said 89.4 percent of the total money transferred from abroad last month came from 11 large donor countries, the sum of which each exceeded $1 million.

To compare, in May 2015 remittances from these 11 donor countries made up 89.9 percent of the total volume of money transfers. 

In May 2016 the top 11 donor countries were: 

• Russia- $31.1 million; 
• Greece- $10.8 million; 
• Italy- $10.2 million; 
• United States- $9.9 million;
• Turkey- $7.5 million; 
• Israel-  $4.5 million;
• Spain- $2.5 million;
• Germany- $2.4 million;
• Ukraine- $1.6 million;
• United Kingdom- $1.5 million;
• Iraq- $1.1 million 

Meanwhile in May 2016 $15.8 million was transferred out of Georgia, compared to $13.3 million in May 2015.