Italy ousts Russia as top remittance sender to Georgia

For the first time, Russia is no longer the country from which Georgia received the most remittances over the course of a month, with Italy ousting Russia as the top remittance sender to Georgia in January 2021.

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In January, remittances to Georgia amounted to $149.8 million. And this is 19 percent (ie, $28 million) more than in the same period last year, the National Bank reports.

Although Italy and Russia have changed places, the rest of the list of the largest donor countries has remained unchanged. More than 92 percent of remittances come from 16 countries – the same as in January 2020.

The highest rate in the history of statistical production is also observed in the volume of direct transfers from a private person to a private person.

In 2020, a total of $1.88 billion was transferred to Georgia in direct transfers. And that’s $ 188 million more than in 2019.

The list of countries where the most remittances came from in January 2021:

• Italy $27.3 million, up 29.7%
• Russia – $23.1 million, decline – 11.4%
• Greece – $18.6 million, up 25%
• United States – $18 million, up 33%
• Israel $13.1 million, up 0.5%
• Turkey $7 million, up 8.5%
• Ukraine – $6.4 million, up 80%
• Germany – $6 million, up 57.1%
• Azerbaijan – $5.3 million, growth – 213%
• Spain – $3.5 million, up 1.8%