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Money transfers to Georgia up in August 2020

Finance Materials 15 September 2020 13:13
Money transfers to Georgia up in August 2020

BAKU, Azerbaijan, Sept.15

By Tamilla Mammadova – Trend:

Georgia received $184.2 million from abroad in August 2020, which is 25.8 percent ($37.8 million) more than the amount transferred in August 2019, Trend reports referring to the National Bank of Georgia (NBG).

Some 95.1 percent of the total money transfers from abroad came from 19 largest partner countries, with the volume of transfers from these countries each exceeding $1 million.

As reported, Italy, Russia, and the US were the largest remittance senders in Georgia. In August 2020, Georgia received $34.94 million from Russia, $27.95 million from Italy, and $22.05 million from the US.

The other countries regularly sending money transfers to Georgia in August 2020 included Greece – $20.64 million, Germany – $6.86 million, Spain - $5.11 million, France – $2.81 million, Poland – $2.67 million, UK - $1.79 million, Cyprus - $1.35 million, Ireland - $1.41 million, Israel – $14.30 million, Turkey – $9.65 million, Ukraine – $10.98 million, Azerbaijan – $6.96 million, Canada - $1.83 million, and Kazakhstan - $1.63 million.

In August 2020, remittances from Georgia totaled $23.1 million, which is a 21.5-percent increase year-on-year.

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