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Over 5 percent of money transfers from Georgia account for Azerbaijan

Business Materials 7 January 2014 20:57 (UTC +04:00)

Baku, Azerbaijan, Jan. 7

By Emin Aliyev - Trend:

Between January and November 2013 money transfers from Georgia to Azerbaijan totalled $7,092 million, which is 5.06 percent of the total money transfers made ​​by citizens of Georgia to foreign countries over this period, National Bank of Georgia told Trend on Jan. 7.

The volume of electronic money transfers to Azerbaijan rose 2.36 times in less than a year. In comparison, funds totalling $3,009 million were transferred from Georgia to Azerbaijan over the entire 2012.

Some $140.046 million were sent from Georgia to foreign countries between January and November 2013. About a third of this amount accounts for Russia. Over this period the volume of money transfers to Russia totalled $45.914 million.

The table below shows the top 10 countries where money transfers from Georgia were directed in January-November 2013:

Country

Transactions, shown in mln. dollars

Specific weight in total volume, shown in percents

1.

Russia

45.914

32.78

2.

Ukraine

20.258

14.47

3.

Greece

15.53

11.09

4.

Azerbaijan

7.092

5.06

5.

Uzbekistan

5.323

3.8

6.

Turkey

3.816

2.72

7.

Armenia

3.677

2.62

8.

Italy

3.595

2.57

9.

Germany

3.238

2.31

10.

France

2.414

1.72

Total:

140.046

100.0

Translated by E.A.

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