Georgian Residents Receive $278.5Mln In Remittances In March, 41.49% From EU

(MENAFN- AzerNews)

Remittances to Georgia from abroad hit $278.5 million in March,with the figure including $115.53 million sent from European Unionmember countries, the National Bank said on Monday, Azernews reports, citing Agenda.

Transfers from EU states constituted 41.49 percent of the totalvolume, the body added, increasing by 10.84 percent in the pastmonth. Recipients also received 36.5 percent, or $160 million, lessfrom senders throughout the world than in March 2023.

Among countries of the bloc, remittances from Italy topped theamounts with $46.67 million (+7.53 percent y/y), followed by Greecewith $20.96 million (+7.09 percent) and Germany with $20.15 million(+14.74 percent).

The highest amount of remittances from other countries came fromRussia ($53mln), the United States ($44.74mln), Israel ($21.10mln)and Kazakhstan ($11.81mln).

Overall, 96.2 percent of the total money transfers from abroadoriginated in 24 countries, with the volume of transfers from themeach exceeding $1 million in March.

In the same month, remittances leaving Georgia totalled $29.3million, compared to $30.5 million in March 2023.



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