The volume of remittances from Russia in December decreased by 5 times. In December 2023, the largest amount of transfers in the amount of $70.58 million came from Russia, however, compared with the amount of transfers for the same period in 2022 ($317.3 million), it decreased by 4.5 times. Additionally, in December 2021, before Russia invaded Ukraine, $39.7 million was sent from Russia to Georgia.
Total amount of remittances to Georgia
The total amount of remittances received in Georgia in December last year was 308.3 million US dollars (828.1 million lari). According to the data National Bank of Georgia, compared to the same period last year, remittances decreased by 42.4% ($227.0 million), mainly due to a decrease in remittances from Russia.
The amount of remittances from Italy to Georgia is growing
In December 2023, after Russia, the largest amount, $49.68 million, was transferred from Italy. For the same period in 2022, the figure was $43.2 million.
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Italy is followed by the United States of America. In December, $46.19 million was transferred from the United States to Georgia. Compared to the same period in 2022, remittances from the United States increased by $11.89 million.
Money transfers to Georgia from different countries
From Greece we received 22.65 million dollars, from Germany – $21.57 million, from Israel – $20.92 million, from Kazakhstan – $14.79 million, from Turkey – 8 million dollars.
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In December 2023, $34 million (91.4 million lari) were sent abroad from Georgia, which is 0.6% more than the same figure in December 2022 ($33.8 million). The largest amount was transferred to Turkey – $6.8 million. Turkey is followed by the Russian Federation, which received $6.6 million from Georgia to Azerbaijan – 3.5 million dollars, to Ukraine – $2.4 million.
