Baku, Azerbaijan, Feb. 21
By Azad Hasanli – Trend:
Money transfers from Azerbaijan to Georgia increased by almost 55 percent from $840,000 in January 2016 to $1.3 million in January 2017, according to a report of the National Bank of Georgia.
Transfers from Georgia to Azerbaijan amounted to $545,300 in January 2017, which is 53.6 percent more than in the same month of 2016.
Azerbaijan ranked the 10th in terms of money transfers to Georgia. The main share of money transfers to Georgia accounted for Russia ($26.45 million), the US ($9.46 million) and Italy ($9.6 million).
Meanwhile, Azerbaijan ranks the fifth for the volume of money transfers from Georgia. Russia ($5.3 million), Ukraine ($1.3 million) and Turkey ($948,200) are leaders for this indicator.
In 2016, $14.75 million were transferred from Azerbaijan to Georgia and $8.8 million from Georgia to Azerbaijan.