Russia, Italy, Greece: Georgia's Largest Remittance Senders in February 2020

Georgia received $137.3 million from abroad in February 2020, which is 9.5% more than the amount in February 2019, says the latest report published by the National Bank of Georgia.

The Russian Federation is in the first place on the list, from which 28.6 million was transferred to Georgia. 

The statistics show that remittances from Italy to Georgia last month totaled $ 21.6 million, which is 24% more compared to the previous year. Consequently, the outbreak of coronavirus in Italy in February did not have a negative impact on remittances.

The main source of remittances is in amounts sent by Georgian emigrants abroad; consequently, the countries with the largest number of immigrants were the largest remittance senders in February 2020.

Russia ($28.68 million), Italy ($21.67 million) and Greece ($16.43 million) were the largest remittance senders in February 2020.

The rating of the countries that regularly transferred money to Georgia is as follows: 

1 Russian Federation - $28.68 million, 9.3% decrease compared to the previous year;

2 Italy - $21.67 million, 24.2% increase compared to the previous year;

3 Greece - $16.43 million, 16.0% increase compared to the previous year;

4 Israel - $14.44 million, 12.6% increase compared to the previous year;

5 United States – $14.39 million, 13.0% increase compared to the previous year;

6 Turkey – $7.77 million, 0.9% increase compared to the previous year;

7 Germany - $4.65 million, 30.0% increase compared to the previous year;

8 Ukraine -  $4.16 million, 78.7% increase compared to the previous year;

9 Spain - $3.73 million, 7.2% increase compared to the previous year;

10 Poland - $2.38 million, 7.2% increase compared to the previous year;

11 Azerbaijan - $2.05 million, 44.7% increase compared to the previous year;

12 France -  $2 million, 7.7% increase compared to the previous year;

13 Kazakhstan - $1.88 million, 46.9% increase compared to the previous year;

14 United Kingdom - $1.46 million, 6.4% increase compared to the previous year;

15 Cyprus - $1.22 million, 25.5% increase compared to the previous year;

16 Canada - $1.11 million, 16,7% increase compared to the previous year;

17 Ireland - $1.1 million, 60.1% increase compared to the previous year. 

Remittances sent from Georgia amounted to $21.7 million in February 2020, which is 22.4% more compared to the same period of the previous year ($17.7 million). 

By Ana Dumbadze