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Remittances from Azerbaijan to Georgia shows highest growth

Remittances from Azerbaijan to Georgia shows highest growth

Remittance inflows from Azerbaijan showed the highest growth in 2020. As the National Bank data have it, a total of USD 5.79 mln (2.9% of total remittances in December) was transferred from Azerbaijan to Georgia in December of 2020.

An annual increase in remittances from Azerbaijan in December was 160.14%.

Georgia saw an annual downward trend from Russia. Transferred amounts from Russia totaled USD 40.71 mln (20.38% of Georgia's overall remittances in December). 

Annual remittance inflows from Turkey stand at 19.12%; in December of 2020, a total of USD 9.9 mln was transferred to Georgia from Turkey (4.96% of the country's overall remittances in December).

Annual transferred amounts from Armenia to Georgia went down by 36.15% over the last month. In December, remittance inflows from this country stood at USD 1.2 mln (0.6% of overall remittances in December).

A total of 94.8% of remittances were sent from 19 major partner countries from which remittance inflows passed USD 1 mln in December.

As the National Bank data have it, Georgia saw overall transferred amounts of USD 199.7 mln in December of 2020, which exceeds the similar figure of December of 2019 by 15.9% (USD 27.4 mln).

In December of 2020, transferred amounts from Georgia to other countries equaled USD 24.7 mln, which is 3.4% less than the similar figure (USD 25.5 mln) of December of 2019. 

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