Money transfers from Azerbaijan to Georgia up

Business Materials 15 April 2017 15:29 (UTC +04:00)

Baku, Azerbaijan, Apr. 15

By Maksim Tsurkov – Trend:

Money transfers from Azerbaijan to Georgia increased from $865,300 to $1.23 million in March 2017, 42.4 percent more compared to March 2016, says a report of Georgia’s National Bank.

Meanwhile, transfers from Georgia to Azerbaijan amounted to $609,100 in March 2017, a growth by 44.6 percent from March 2016.

Azerbaijan ranks 12th for the volume of money transfers to Georgia. Russia ($38.31 million), the US ($11.76 million) and Greece ($11.55 million) are the leaders for this indicator.

Meanwhile, Azerbaijan ranks fifth for the volume of funds transferred from Georgia. Leaders on this indicator are Russia ($7.24 million), Ukraine ($2.06 million) and Turkey ($1.38 million).

In 2016, $14.75 million were transferred from Azerbaijan to Georgia and $8.8 million from Georgia to Azerbaijan.


Follow the author on Twitter: @MaksimTsurkov