Georgia receives $112m in remittances in March 2017

The sum of money coming into Georgia in January 2016 was 11.8 percent less year-on-year (y/y) said NBG. Photo by N. Alavidze/Agenda.ge.

Agenda.ge, 13 Apr 2017 - 16:43, Tbilisi,Georgia

Georgia received 23.5 percent more in remittances in March 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 $38.3 million in remittances from Russia, $11.8 million from the US and $11.6 million from Greece, reported the National Bank of Georgia (NBG).

Overall Georgia received $112 million from abroad in March 2017. The vast majority (92.6 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 March 2017 included:

Italy – $11.1 million
Turkey - $9.3 million
Israel - $8.6million
Spain - $2.8 million
Germany – $2.6 million
Ukraine - $2.3 million
Azerbaijan - $1.2 million
United Kingdom - $1.2 million
France - $1.2 million
Kazakhstan -$1.1 million
Iraq - $1 million

Remittances leaving Georgia totalled $16.6 million in March of 2017.