TODAY.AZ / Business

Remittance flows from Azerbaijan to Georgia decrease

26 October 2022 [18:30] - TODAY.AZ

By Trend

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

According to the Bank, remittance flows from Azerbaijan to Georgia in September of this year amounted to $4.5 million, which is a decrease of 42.3 percent over the same month in 2021 ($7.8 million).

Thus, Azerbaijan ranked 12th in terms of remittances to Georgia in September 2022.

Russia ranked first in the reporting month - $173.9 million, followed by Italy ($36.2 million) and the US ($28.6 million).

Overall, the total amount of money sent to Georgia from abroad in September amounted to $387.2 million, which is an increase of 84.6 percent compared to the corresponding month of last year ($209.7 million).


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