According to TBC Capital's economic review, remittance inflows from Russia have shown the highest increase in Georgia in March 2021. Monthly cash inflows from Russia totaled USD 32.19 mln, with Russian remittances amounting to 17.11% of overall cash inflows.
Georgia saw the highest increase in remittances from Azerbaijan, Ukraine, and Kazakhstan in March 2021. From Turkey, USD 9.51 mln (5.6% of overall cash inflows) was transferred to the country, while annual remittances grew by 15%.
Citizens transferred USD 1.17 mln from Armenia, which equals 0.62% of total remittances. Annual remittances from the country have risen by 22.68%.
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.