Following the National Bank of Georgia, the annual increase in money transfers from Azerbaijan to Georgia in June 2020 equaled 183.03%
In June 2020, the total remittances Georgia received from Azerbaijan hit 4.73 million USD, equalling 2.79% of the total transfers.
As the National Bank reports, Azerbaijan is the only country with such a high annual growth rate in remittances.
Ukraine follows Azerbaijan, as money transfers from Ukraine reached 6.52 million USD in June 2020. It is 3.85% of the total volume of transfers.
Russia ranks first - 32.57 million USD, being 19.25% of the total volume of transfers. However, compared with the same period in 2019, the bulk of remittances from Russia decreased by 6.36%.
In June 2020, the total volume of remittances received from Turkey totaled 10.88 million USD, i.e., 6.43% of the total amount of transfers. Compared to 2019, the remittances from Turkey increased by 43.87%.
In the reporting period, the annual growth of money transfers from Armenia to Georgia hit 21.23%. The total volume of remittances received from Armenia totaled 1.10 million USD. It is 0.65% of the total amount of money transfers.
In June 2020, the total money transfers amounted to 169.2 million USD (514.8 million GEL), which is 17.8% or 25.6 million USD more than in June 2019.
Bela Gelashvili
News Author