Georgia Remittances USD 805.3 mln in Jan-July

Money transferred from abroad to Georgia in the first seven months of 2013 reached USD 805.3 million, 8.4% increase over the same period of last year, according to figures released by the Georgian central bank.

In July the figure stood at USD 136.4 million, 16.4% y/y and 12.3% m/m increase.

Russia remains the largest source of remittances for Georgia with 434.8 million, accounting 53.9% of all money transferred into Georgia in January-July, 2013.

Other large sources of remittances for Georgia are Greece – USD 109.6 million in the first seven months of 2013, followed by Italy – USD 62 million; the U.S. – USD 42.4 million; Ukraine – USD 22.7 million; Turkey – USD 22.6 million; Spain – USD 13.9 million; Israel – USD 11.4 million; the UK – USD 11 million; Germany – USD 9.5 million; Azerbaijan – USD 6.9 million and Kazakhstan – USD 6.4 million.

Money transferred from abroad to Georgia in 2012 amounted to a record high of USD 1.33 billion, up by 5.2% from 2011. (Civil.Ge)