Georgia sees stable increase in remittances

Business Materials 22 February 2021 17:28 (UTC +04:00)
Georgia sees stable increase in remittances

BAKU, Azerbaijan, Feb. 22

By Tamilla Mamedova - Trend:

Georgia saw a stable increase in remittances in the second week of February 2021, Trend reports via the TBC Capital's economic review.

Compared to the previous week, remittance inflows have dropped slightly, and annual remittance growth in the week of 8-14 January amounted to 16 percent.

Cash inflows from Azerbaijan have shown the highest increase: on Feb. 1-7, annual remittances from Azerbaijan to Georgia rose by 99 percent and by 130 percent on Feb. 8-14 February.

Annual transferred amounts from Russia and Central Asia have gone down, while they have stably increased from the UK and US for the last three weeks.

Georgia received $149.8 million from abroad in January 2021, which is 19.2 percent more than the amount in Jan.2020.

Russia ($23.18 million), Italy ($27.32 million) and the United States ($18.07 million) was the largest remittance senders in January 2021. Overall, the vast majority (93.2 percent) of all money transfers from abroad came from 16 countries.


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