Money transfers to Georgia up 127.1% year-on-year in March

Georgian recipients received ?1134.4 million ($438.4 mln) in remittances from abroad in March, marking a 127.1 percent increase year-on-year, the latest data from the National Bank of Georgia shows.

Russia ($223.57 million), Italy ($43.40 million) and the United States ($35.99 million) were the countries with largest remittance senders.

Overall, the vast majority of all money transfers from abroad - 97.8 percent - came from 24 countries.

In the same month, $30.4 million was transferred from Georgia to recipients abroad - a 26.7 percent increase from the March 2022 figure of $24.0 million.