The remittances from Azerbaijan to Georgia have experienced a high rise in June 2020, the National Bank June Report reads.
Following the document, the money transfers from Azerbaijan to Georgia increased by 183% and led to a 2.1% change in the total remittance rate.
As the National Bank of Georgia reports, the amounts transferred from the EU countries also rose in June. The increase equaled 23.9%.
The money transfers jumped by the following from the countries given below:
Italy – 38.8%
Greece – 16.5%
Germany – 62.9%
As for the countries across the region, money transfers increased from Turkey and Ukraine and dropped from Russia.
The share of Azerbaijan equals 2.79% of the total remittances to Georgia.
As the National Bank of Georgia reports, Azerbaijan is the only country with such a high rate of money transfers.
The TBC Research report also highlights the jump of the money transfers from Azerbaijan to Georgia.