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Remittance inflows from Azerbaijan grow by 203%

Remittance inflows from Azerbaijan grow by 203%

According to TBC Capital weekly economic review, remittances from Azerbaijan to Georgia increased by 203% in the week of October 9-15 and by 216% in the week of November 2-8. 

From Armenia, annual remittances stand at 18 percent; they went down by 14% in the week of 2-8 November. 

Overall, a slightly upward trend was noticed in remittances (6% growth) in the week of 9-15 November if compared to the previous week. 

Remittance inflow increases have been a three-digit indicator for almost the entire year; however, in October, they fell sharply and grew by double digits only. In the week of October 26-November 1, remittances from Azerbaijan increased by 37% compared to the same period last year, and in the period October 25-31, remittances from Azerbaijan to Georgia increased by 44%. The figure for October 19-25 is 60% higher than last year.

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