In January of 2021, the number of remittances to Georgia increased by 19.2 percent compared to the previous year and amounted to 149.8 million US dollars, while the amount of remittances from Georgia decreased by 6.7 percent to 17.2 million US dollars.
The January review of the National Bank reports.
According to the document, remittances from Azerbaijan (213.1 percent) and Ukraine (80.6 percent) increased at a high rate in the reporting month, reflecting contributions to the change in total remittances by 2.9 and 2.3 percentage points.
Remittances from Turkey also increased, while a decrease was observed from Russia.
Remittances from EU countries increased by 26.8 percent during the reporting month, driven by increased remittances from Italy (29.7 percent), Greece (25.2 percent), and Germany (57.2 percent).
Remittances from the United States (33.2 percent) and Canada (53.7 percent) positively impacted the growth of remittances from other countries.
As for the distribution by countries, the main source of remittances were EU countries (44.4 percent) and Russia (15.5 percent). Of the EU countries, Italy and Greece have a high share of total remittances.
