The National Bank of Georgia reported that Georgia saw a steady rise in money transfers in October, with remittances to the country reaching USD 318.7 million, a 13.4% increase compared to the same month last year. Outbound transfers also grew, up 14.5% to USD 40.8 million.
The central bank noted that the overall growth was driven primarily by inflows from the European Union which recorded a 15% year-on-year increase. Transfers from the United States continued their strong upward trend as well, expanding by 16.5%. Russia contributed a modest but positive effect, adding 2.5% to the monthly increase.
EU countries remained the dominant source of income for Georgian households, accounting for 44.9% of all incoming transfers. Within the bloc, Italy (16.7%), Germany (9.3%) and Greece (8.1%) stood out with the highest individual shares. The United States followed with an 18.6% share while Russia made up 13% of total inflows.
