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Money transfers to Georgia totaled $518 mln in January-May

Georgia, Tbilisi, June 19 / Trend, N.Kirtskhalia /

During the first five months of 2012 the volume of money transfers to Georgia totaled $518.16 million, which is 9 percent more than the same period of last year, the National Bank of Georgia said on Tuesday.

In May, money transfers amounted to $116.7 million, that is, 189.8 million lari, which is 6.5 percent more than in May 2011 and 3.5 percent more than the previous month.

Russia remains as major source of money transfers to Georgia, from where more than half of all remittances - $268.86 million were transferred in January-May 2012.

Also major sources of money transfers are as follows: Greece - $62.6 million during the same period, Italy - $44.8 million, U.S. - $32.1 million, Ukraine - $18.45 million., Spain - $12.37 million, Turkey - $11.56 million, India - $6.9 million, UK - $6.58 million, Israel - $5.8 million and Germany - $5.2 million.

Last year, money transfers reached a record high - $1.26 billion, or 20.5 percent more than in 2010.

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Tags: Georgia