BAKU, Azerbaijan, May 1
By Tamilla Mammadova – Trend:
Remittance inflows from Azerbaijan to Georgia have shown a high increase in March 2021, Trend reports citing the TBC Capital's economic review.
Cash inflows from Azerbaijan have grown by 207.6 percent and from Ukraine by 145.2 percent.
Georgia also saw an increase in remittances from Turkey, and Russia, as well as the European Union countries: cash inflows from Italy have risen by 76.3 percent, by 27.3 percent from Greece, and 70.2 percent from Germany, with an overall increase from the EU members amounting to 50.9 percent.
In March 2021, remittance inflows (a total of $188.2 million) in Georgia saw a 49.5 percent growth if compared to those of the previous year, while cash outflows from Georgia grew by 21.9 percent and reached $24.9 million. In March, the main sources of remittances proved to be the EU member countries (41.5 percent) and Russia (17 percent).
Remittance inflows from Azerbaijan to Georgia have shown a triple growth ($18.6 million transferred in remittances) in the first quarter of the current year if compared to the first quarter of 2020.
January and March cash inflows from Georgia to Azerbaijan totaled $3.8 million, which is $200,000 more than those of the previous year.