Money transfers drop by 9.6% in May

Money transfers drop by 9.6% in May

In May 2020, the number of remittances received in Georgia decreased by 9.6% in May 2020.

The remittances equaled 131.8 mln USD, while the volume of the money transferred from Georgia dropped by 33.7% and equaled 13.6 mln USD.

This information is provided in the May review by the National Bank of Georgia.

Following the document, money transfers from Kyrgistan drastically decreased (- 81.5%).

The money transfers increased from the EU by 12.4% due to increased transfer from Italy, Greece, and Germany.

The number of remittances from Azerbaijan increased, while the drop of remittances from Israel and Kazakhstan negatively influenced the rate.

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