Remittances to Georgia up 63.1% in August

Remittances to Georgia from abroad hit $334.3 million in August, a 63.1 percent increase on the corresponding figure from the same month of last year, the National Bank of Georgia said on Thursday. 

A vast majority - 97.8 percent - of all money transfers came from 25 countries, with the volume of transfers from these states each exceeding $1 million in August.

These countries included Italy, Greece, Germany, Spain, France, Poland, Ireland, Cyprus, the Netherlands, Belgium, Russia, the United States, Israel, Armenia, Kyrgyzstan, Kazakhstan, Turkey, Belarus, Azerbaijan, the United Kingdom, Tajikistan, Uzbekistan, Canada, Saudi Arabia and the United Arab Emirates.

Image: National Bank of Georgia. 

In August 2021, the share of the 25 countries constituted 93.0 percent of the total volume of money transfers, the NBG said. 

• August 2021: money transfers to Georgia up 11.2%

The largest remittance senders were in Russia ($110.94 million), Italy ($36.59 million) and the United States ($29.21 million). 

During last month, $29.5 million was transferred abroad, which is 7.6 percent more compared to the $27.4 million in January 2021.