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Money Transfers to Georgia Declined by 4.8 million GEL in May

Money Transfers to Georgia Declined by 4.8 million GEL in May

In May 2016, the volume of money transfers from abroad constituted 92.9 million USD (203.1 million GEL), which is 4.9 percent (4.8 million USD) less than the amount in May 2015.

89.4 percent of the total money transfers from abroad came from 11 largest donor countries, with the volume of transfers from of these countries each exceeding 1 million USD in May 2016. In May 2015 the share of these 11 countries constituted 89.9 percent of the total volume of money transfers, including 10.6 million USD from Greece (11%), 10.2 million USD from Italy and 2.5 million USD from Spain, 2.4 million USD from Germany, 31 million USD from Russia (33%), 9.9 million USD from the USA and 7.5 million USD from Turkey.

In May 2016, 15.8 million USD (or 34.5 million GEL) was transferred from Georgia, as compared to 13.3 million USD (or 30.9 million GEL) in May 2015.