During January of the current year, the total volume of remittance inflows to Georgia reached 263.4 million US dollars (704.6 million GEL), reflecting a decrease of 40.8% (181.6 million US dollars) compared to the analogous figure recorded in January 2023.
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A notable proportion, 25.68% of the remittances, originates from the Russian Federation. Data from the National Bank of Georgia reveals that $67.64 million was transferred from Russia to Georgia in January, marking a reduction of 74.73% from January 2023. In January of the previous year, this amount stood at $267.6 million. Additionally, in the corresponding month of 2022, before Russia initiated the conflict in Ukraine, remittances from Russia to Georgia amounted to $20.3 million.
Italy ranks second in terms of remittance volume, with $44.16 million received. The top ten also encompasses the United States of America ($38 million), Greece ($18.47 million), Israel ($17.88 million), Germany ($16.19 million), Kazakhstan ($9.38 million), Turkey ($6.82 million), Spain ($4.33 million), and France ($4.15 million).
The National Bank data indicates that a total of $100.44 million was received from EU countries last month, constituting 38% of the overall remittance volume.
During January, $25.9 million was sent from Georgia to foreign destinations, representing a marginal decrease of 1.5% compared to the corresponding figure of January 2023 ($26.3 million). The most significant amounts were remitted from Georgia to Turkey ($5.4 million), Russia ($3.4 million), Azerbaijan ($2.7 million), Ukraine ($1.8 million), and the USA ($1.2 million).
