Georgia receives $137.3 mln in remittances in February 2020
Russia ($28.68 million), Italy ($21.67 million) and Greece ($16.43 million) were the largest remittance senders in February 2020. Photo: Nino Alavidze/Agenda.ge.
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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 ($28.68 million), Italy ($21.67 million) and Greece ($16.43 million) were the largest remittance senders in February 2020.
Overall, the vast majority (94 per cent) of all money transfers from abroad came from 17 countries.
After Russia, Italy and Greece, other countries regularly sending money transfers to Georgia in February 2020 included:
- Israel – $14.44 million
- United States – $14.39 million
- Turkey – $7.77 million
- Germany – $4.65 million
- Ukraine – $4.16 million
- Spain – $3.73 million
- Poland – $2.38 million
- Azerbaijan – $2.05 million
- France – $2 million
- Kazakhstan – $1.88 million
- United Kingdom – $1.46 million
- Cyprus – $1.22 million
- Canada – $1.11 million
- Ireland - $1.1 million
In February 2020, remittances leaving Georgia totalled $21.7 million, compared to $17.7 million in February 2019.
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.
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.
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).
The volume of money transfers to Georgia in July 2020 was $188.7 million, which is a 22.1 per cent increase compared to July 2019, says the National Bank of Georgia (NBG).