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1H'11 Money Transfers from Abroad USD 509.5m
Civil Georgia, Tbilisi / 20 Jul.'11 / 13:16

Money transferred from abroad to Georgia increased 28.7% year-on-year in June, 2011 reaching USD 98.9 million, according to figures released by the Georgian central bank.

Total amount of money transferred to Georgia in the first half of 2011 stands at USD 509.5 million, 20.4% increase y/y.

Money transfers from Russia, which has been the largest source of remittances for Georgia for many years already – increased to USD 53.4 million in June, 2011.

Russia is followed by Greece – USD 7.7 million; Italy – USD 7.1 million; the U.S. – USD 5.7 million; Kazakhstan – USD 5.4 million; Ukraine – USD 4.2 million; Turkey – USD 2.5 million; Spain – USD 2.1 million; Israel – USD 1.2 million and Germany – USD 1.1 million, according to the central bank’s June figures.

Money transfers from abroad was USD 866 million in 2007, increasing to slightly over USD 1 billion in 2008; the figure stood at  USD 841.7 million in 2009 and at USD 939.6 million in 2010.

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