Jan 2020: money transfers to Georgia amount to $125.6 mln
$18.5 million was transferred from Georgia to foreign countries in January 2020, which is 19.1 per cent more than it was in January 2019. Photo: Nino Alavidze/Agenda.ge.
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The volume of money transfers to Georgia in January 2020 was $125.6 million, which is a 8.6 per cent increase compared to January 2019, announces the National Bank of Georgia.
More than one-third of money transfers came in from the European Union:
- EU countries - $52.45 million (41.75%)
- Other countries - $73.18 million (58.25%)
The largest countries from which money transfers entered Georgia were the following:
- Russia - $26.17 million (20.83%)
- Italy – $21.06 million (16.76%)
- Greece – $14.87 million (11.83%)
- US – $13.56 million (10.8%)
- Israel – $13.09 million (10.42%)
- Turkey – $6.6 million (5.25%)
$18.5 million was transferred from Georgia to foreign countries in January 2020, which is 19.1 per cent more than it was in January 2019.
See additional statistics here.
The volume of money transfers to Georgia in December 2019 was $172.3 million, which is a 14.2 per cent increase compared to December 2018, announces the National Bank of Georgia.
The volume of money transfers to Georgia in November 2019 was $151 million, which is a 13.3 per cent increase compared to November 2018, announces the National Bank of Georgia.
The volume of money transfers to Georgia in October 2019 was $153.2 million, which is an 11.5 per cent increase compared to October 2018, announces the National Bank of Georgia.
A report released by the State Commission on Migration reads that 46 per cent of Georgian families [2018] that have a family member abroad depend on this individual for their only income.
Georgia received $137.3 million from abroad in February 2020, which is 9.5 per cent more than the amount in February 2019, says the National Bank of Georgia.
Russia, Italy and Greece were the largest remittance senders in Georgia in March 2020, says the National Bank of Georgia. 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.
The COVID-19 pandemic and the slump in commodity prices will affect the inflow of remittances to Georgia as some of the key remittances sending countries such as Italy, Russia, the United States, have been strongly impacted, says the World Bank.
Georgia received $79.1 million from abroad in April 2020, which is 42.3 per cent less than the amount in April 2019, says the National Bank of Georgia (NBG).
Georgia received $131.8 million from abroad in May 2020, which is 9.6 per cent less than the amount in May 2019, says the National Bank of Georgia (NBG). The vast majority (92.8%) of all money transfers from abroad came from 14 countries, with the volume of transfers from these countries each exceeding $1 million last month.
The volume of money transfers to Georgia in June 2020 was $169.2 million, which is a 17.8 per cent increase compared to June 2019, says the the National Bank of Georgia (NBG).