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Cash inflows from Azerbaijan, Ukraine and Kazakhstan show highest increase in Georgia

Cash inflows from Azerbaijan, Ukraine and Kazakhstan show highest

According to TBC Capital's economic review, remittance inflows from Azerbaijan, Ukraine, and Kazakhstan have shown the highest increase in Georgia in March 2021.

In March, remittance inflows to Georgia grew by 207.57% (USD 7.33 mln transferred) if compared to those of March 2020. Remittances from Azerbaijan totals 3.9% of overall cash inflows in the country.

Annual remittances from Ukraine to Georgia went up by 145.2% (a total of USD 8.85 mln transferred), with overall remittances from Ukraine amounting to 4.71% of March remittances.

Annual transferred amounts from Kazakhstan reached USD 2.38 mln, with them having grown by 95.5% (1.27% of March overall remittances).

In February 2021, cash inflows from Azerbaijan showed the highest increase (190.9%) in the region, followed by non-region country Ukraine (78.3%).

In March 2021, 94.7% of remittances flowed in Georgia from 19 partner countries, while last year, the same figure stood at 94.8%.

In March 2021, cash inflows in Georgia equaled USD 188.2 mln or GEL 627.7 mln, with this being 49.5% higher than those of 2020. 

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