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Remittance inflows from Azerbaijan to Georgia show growth

Finance Materials 16 April 2021 17:44 (UTC +04:00)
Remittance inflows from Azerbaijan to Georgia show growth

BAKU, Azerbaijan, April 16

Tamilla Mammadova – Trend:

Remittance inflows from Azerbaijan to Georgia have shown a triple growth (18.6 million) in the first quarter of the current year, if compared to the first quarter of 2020, Trend reports via the TBC Capital's economic review.

January and March cash inflows from Georgia to Azerbaijan totaled $3.8 million, which is $0.2 million more than those of the previous year.

A total of 7.3 million was transferred from Azerbaijan to Georgia in March and reached its peak. Remittance inflows from Azerbaijan, Ukraine, and Kazakhstan showed the highest increase in Georgia in March 2021.

Georgia received $188.2 million from abroad in March 2021, which is 49.5 percent more than the amount in March 2020, said the National Bank of Georgia.

Russia ($32.19 million), Italy ($30.51 million) and the United States ($24.13 million) were the largest remittance senders in March 2021.

Overall, vast majority (94.7 percent) of all money transfers from abroad came from 19 countries.

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