Remittances to Georgia Up Nearly 15% Year-on-Year

The National Bank of Georgia has released this month’s statistics on remittances to Georgia. More than $135 million was transferred to Georgia from abroad this June, marking a 14.8% increase in remittances year-on-year (y/y).

The majority of remittances last month came from Russia, as has been the consistent pattern historically. 29% of total remittances or $39 million was sent from Russia.

The second highest number of remittances came from Italy with $15.6 million, and the third highest from the United States at $14.2 million.

Remittances sent from Georgia totaled $17.9 million, in June 2018, up just slightly from the previous June, which saw $17.8 million sent abroad.

Remittances to Georgia June, 2018:

Russia:                         39.2 million USD (29% y/y increase)

Italy:                            15.6 million USD (11.5%)

United States:             14.2 million USD (10.5%)

Greece:                       13.9 million USD (10.3%)

Israel:                          13.3 million USD (9.8%)

Turkey:                        9.7 million USD (7.2%)

Germany:                    3.6 million USD (2.7%)

Spain:                          3.5 million USD (2.6%)

By Samantha Guthrie

Photo: National Bank of Georgia

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