In August 2023, the global volume of remittances stood at $287 million, marking a 14% decline, equivalent to $47.3 million, compared to the corresponding figure in August 2022.
During the same period, Russia retained its position as the foremost contributor to remittances, with a total of $60.3 million transferred, signifying a substantial drop of nearly 45.5%. Russia’s share in the overall remittance pool amounted to 21%. Following closely, Italy recorded remittances totaling $45 million, experiencing a noteworthy annual surge of 23%.
The United States secured the third position, witnessing a remarkable 37.6% upswing in remittances in August, culminating in a total of $40.2 million. Germany secured the fourth spot with remittances amounting to $20.4 million, registering an impressive annual growth rate of 33%. Greece occupied the fifth position with approximate $20 million in remittances, reflecting a steady growth of 6%.
In August 2023, Georgia saw a total outflow of $29.2 million, marginally down by 1% compared to the corresponding figure in August 2022.
By Mariam Gorkhelashvili
