April 2020: Money Transfers from Abroad Declined by 42.3%
In April 2020, Georgia received $79.1 million from abroad, which is a 42.3% (USD 58.0 million) decline compared to the same period of the last year, says the National Bank of Georgia (NBG).
89.6% of total money transfers from abroad come from 12 partner countries, from which the volume of such transfers exceeded 1 million USD in April.
In April of the last year, the share of these 12 countries amounted to 89% of the total volume of money transfers.
Italy, Russia and Greece were the largest remittance senders in Georgia in April 2020. Georgia received $13.36 million from Italy, $13.12 million from Russia and $10.15 million from Greece.
Other countries regularly sending money transfers to Georgia in April 2020 were:
- United States – $9.74 million
- Israel – $6.87 million
- Turkey – $5.33 million
- Germany – $3.73 million
- Azerbaijan – $2.44 million
- Ukraine – $2 million
- Spain – $1.59 million
- Poland – $1.47 million
- France – $1.02 million
In April, USD 10.0 million were transferred from Georgia, which is less than 47.7% compared to the same period of the previous year.
By Ana Dumbadze
Image: Shutterstock