September 2020: money transfers to Georgia up 28.7%
Russia, Italy and the United States were the largest remittance senders in Georgia in September 2020. Photo: Nino Alavidze/Agenda.ge.
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Georgia received $192.7 million from abroad in September 2020, which is 28.7 per cent more than the amount in September 2019, says the National Bank of Georgia (NBG).
The vast majority (94.7%) of all money transfers from abroad came from 19 countries, with the volume of transfers from these countries each exceeding $1 million last month.
Russia, Italy and the United States were the largest remittance senders in Georgia in September 2020. Georgia received $35.13 million from Russia, $29.21 million from Italy and $22.65 million from the United States.
After Russia, Italy and the United States, other countries regularly sending money transfers to Georgia in September 2020 included:
- Greece - $21.45 million
- Israel – $13.98 million
- Turkey – $10.61 million
- Germany – $7.54 million
- Azerbaijan – $7.43 million
- Ukraine – $13.21 million
- Spain – $4.82 million
- Poland – $2.60 million
- France – $2.98 million
- UK - $1.90 million
- Cyprus - $1.55 million
- Ireland - $1.51 million
- Kazakhstan - $1.93 million
- Canada - $1.85 million
- Armenia - $1.22 million
- Kyrgyzstan - $1.04 million
In September 2020, remittances leaving Georgia totalled $25.1 million, which is a 22.4 per cent increase year-on-year.
The volume of money transfers to Georgia in August 2020 was $184.2 million, which is a 25.8 per cent increase compared to August 2019, says the National Bank of Georgia (NBG).
The volume of money transfers to Georgia in July 2020 was $188.7 million, which is a 22.1 per cent increase compared to July 2019, says the National Bank of Georgia (NBG).
The volume of money transfers to Georgia in June 2020 was $169.2 million, which is a 17.8 per cent increase compared to June 2019, says the the National Bank of Georgia (NBG).
Georgia received $131.8 million from abroad in May 2020, which is 9.6 per cent less than the amount in May 2019, says the National Bank of Georgia (NBG). The vast majority (92.8%) of all money transfers from abroad came from 14 countries, with the volume of transfers from these countries each exceeding $1 million last month.
The money supply of the Georgian economy was up 16% in September 2020, the monthly review of the National Bank of Georgia (NBG) released today reports. The M2 aggregate reached 13.7 billion GEL last month.