Russia, Italy, Greece remain largest source of remittances in Georgia in March

Russia, Italy and Greece were the largest remittance senders in Georgia in March 2020, says the National Bank of Georgia.

Georgia received $25.39 million from Russia, $17.31 million from Italy and $16.24 million from Greece.

Overall, Georgia received $125.9 million from abroad last month, which is 9 per cent less than the amount in March 2019.

The vast majority (92.8 per cent) of all money transfers from abroad came from 16 countries.

After Russia, Italy and Greece, other countries regularly sending money transfers to Georgia in March 2020 included:

• United States – $15.10 million
• Israel – $11.78 million 
• Turkey – $8.27 million
• Germany – $4.94 million 
• Ukraine – $3.61 million 
• Spain – $3.15 million
• Azerbaijan – $2.38 million
• Poland – $2.8 million
• France – $1.67 million
• United Kingdom – $1.54 million
• Kazakhstan – $1.22 million
• Cyprus – $1.08 million
• Canada – $1.01 million

In March 2020, remittances leaving Georgia totalled $20.4 million, which is a 10.1 per cent increase year-on-year.