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Money transfers from Azerbaijan to Georgia down

Finance Materials 28 October 2022 09:48
Baku, Azerbaijan Trend News Agency
Money transfers from Azerbaijan to Georgia down

Money transfers from Azerbaijan to Georgia significantly decreased in August 2022, Trend reports with reference to the National Bank of Georgia.

According to the Bank, remittances from Azerbaijan to Georgia in August of this year amounted to $4.9 million, which is a decrease of 31.9 percent over the same month in 2021 ($7.2 million).

Thus, Azerbaijan ranked 13th in terms of remittances to Georgia in August 2022.

Russia ranked first among countries in the world in terms of remittances to Georgia in the reporting month - $110.9 million. Followed by Italy ($36.5 million) and the US ($29.2 million).

Overall, the total amount of money transfers to Georgia in August this year amounted to $334.2 million, which is an increase of 63.1 percent compared to the corresponding month of 2021 ($204.8 million).

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