Georgia receives $115m in remittances in May 2017
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Georgia received 24.2 percent more in remittances in May of 2017 than the same time period last year.
The majority of remittances came from Russia, the United States and Greece.
Last month Georgia received $37.8 million in remittances from Russia, $12.1 million from the US and $11.7 million from Greece, reported the National Bank of Georgia (NBG).
Overall Georgia received $115.4 million from abroad in May 2017. The vast majority (92.8 percent) of all money transfers from abroad came from 14 countries.
After Russia, the US and Greece, other countries regularly sending money transfers to Georgia in May 2017 included:
- Italy – $11.7 million
- Turkey - $10 million
- Israel - $9.4 million
- Spain - $3.1 million
- Germany – $2.8 million
- Ukraine - $2.1 million
- Azerbaijan - $1.4 million
- United Kingdom - $1.4 million
- Iraq - $1.3 million
- France - $1.2 million
- Kazakhstan -$1.1 million
Remittances leaving Georgia totalled $ 18.2 million in May of 2017.
Georgia received 23.5 percent more in remittances in March of 2017 than the same time period last year.
Georgia received 17.9 percent more in remittances in February of 2017 than the same time period last year. The majority of remittances came from Russia, the United States and Greece.
Russia, the United States (US) and Italy accounted for 57.1 percent of December 2016 remittances to Georgia, making them the three largest suppliers of foreign money transfers.
Georgians living abroad are sending more money to their home country, says the Ministry of Finance.
Georgia received 17.1 percent more in remittances in June of 2017 than the same time period last year.
Georgia received 20.1 percent more in remittances in July of 2017 than the same time period last year.
Georgia received $121.8 million from abroad in August 2017, while remittances leaving Georgia totalled $19.4 million, says the National Bank of Georgia.
Georgia received $124.4 million from abroad in September 2017, while remittances leaving Georgia totalled $19 million, says the National Bank of Georgia.