The volume of remittances from Russia to Georgia is falling for the 3rd consecutive year, while from EU and US countries is increasing, as evidenced by the National Bank of Georgia.
Overall, in April 2025, the value of remittances to Georgia from abroad was $295.5 million, an increase of 6.1% compared to the same period of the erstwhile year. EU associate States account for almost 45% of the total.
The U.S. ranked first in terms of the volume of transmissions, continuing the trend of 2024, erstwhile it first overtakes Russia.
The yearly increase is mainly due to the increase in transmissions from Spain (+40.27%), Kyrgyzstan (+40.26%), the Netherlands (+31.28%) and Slovakia (+28.1%).
Significant declines were recorded in Kazakhstan (41.61%) and Russia (-18.85%).
The first 10 countries in terms of remittances:
- US – $54 million, +17%;
- Italy – $50.2 million, +10%;
- Russia – $39.3 million;
- Germany – $24.8 million, +20%;
- Greece – $24.6 million, +12%;
- Israel – $22.2 million, +11%;
- Turkey – $8.6 million, +6%;
- Spain – $7.9 million;
- Kyrgyzstan – $7.8 million;
- Kazakhstan – 7.2 million dollars.
In 2024, the full value of private money transfers via electronic systems from another countries to Georgia amounted to $3.3 billion, a decrease of 18.9% compared to 2023.
Source: newsgeorgia.ge
Study Bulletin: BIS
