In February, the total volume of remittances transferred to Georgia rose by 17.1% year-on-year, reaching USD 295.3 million. Meanwhile, the amount of funds sent from Georgia increased by 14.8%, amounting to USD 33.0 million.

According to a report published by the National Bank of Georgia (NBG), the primary driver of this growth was remittances received from the European Union, which saw an annual increase of 19.8%. Remittances from the United States continued to grow, up by 14.4%. Additionally, Russia contributed positively, accounting for a 2.3 percentage point increase in February.

“In February, the main source of remittances was the European Union, contributing 45.4%, followed by the United States with 18.4%, and Russia with 11.9%. Notably, among EU countries, Italy (18.8%), Germany (8.5%), and Greece (7.9%) held significant shares,” the National Bank of Georgia observes.