According to TBC Capital's weekly economic review, in November of 2020, transferred amounts to Georgia have increased by 12.5% if compared to those of the previous year and totaled USD 169.9 mln, while transferred amounts from Georgia have gone down by 0.1% to USD 21.9 mln.
Transferred amounts from Azerbaijan increased by 208.1% and by 124.4% from Ukraine this month.
Remittance inflows have also increased from Turkey and decreased from Russia.
As for the EU countries, in November, remittances surged by 23.4%: from Italy, they grew by 27.7%, by 15.4% from Greece and 65% from Germany. An upward trend in remittance inflows (41.3%) has also been witnessed from Canada (41.3%) and the U.S. (35.6%). The main sources of remittances to Georgia were the EU countries (40.7%), with Italy and Greece particularly noteworthy, and Russia (19.4%).
