“In September, the total volume of remittances sent to Georgia grew by 12.1% year-on-year, reaching USD 317.8 million. Conversely, the amount of funds transferred from Georgia increased by 12.7%, amounting to USD 38.2 million,” a report published by the National Bank of Georgia (NBG) reads.

The NBG notes that the main driver of this growth was remittances received from the European Union, which increased by 11.7% year-on-year; remittances from the United States continued their upward trajectory, rising by 21.7%; and Russia’s positive contribution in September amounted to 1.3%.

“In September, the main sources of remittances were the European Union countries (45.4%), the United States (18.8%), and Russia (12.4%). Among EU nations, notable shares were held by Italy (17.0%), Germany (9.4%), and Greece (8.2%),” the National Bank’s publication states.