August 2020: money transfers to Georgia up 25.8%

The volume of money transfers to Georgia in August 2020 was $184.2 million, which is a 25.8 per cent increase compared to August 2019, says the National Bank of Georgia (NBG).

More than one-third of money transfers came in from the European Union: 

• EU countries - $74.53 million (40.46%)
• Other countries - $109.68 million (59.54%)

The largest countries from which money transfers entered Georgia were the following:

• Russia – $34.94 million
• Italy – $27.95 million
• USA – $22.05 million
• Greece – $20.64 million
• Israel – $14.30

The vast majority (95.1%) of all money transfers from abroad came from 19 countries, with the volume of transfers from these countries each exceeding $1 million last month.

$23.1 million was transferred from Georgia to foreign countries in August 2020, which is a 21.5 per cent increase year-on-year.