NBG: In July, EU countries, U.S. primary sources of remittances to Georgia

The volume of remittances in July increased by 3.9 per cent year-on-year to USD 350.0 million, while the amount of monetary transfers from abroad went up by 4.7 per cent to USD 39.0 million, reads the report published by the National Bank of Georgia (NBG).

According to the NBG, remittances from the U.S. made the leading contribution to the growth, rising by 11.2% year-on-year. Remittances from Israel also increased by 21.6% year-on-year. The growth of remittances from the European Union stood at 2.4% year-on-year.

In July, the primary sources of monetary remttances were the EU countries with 53.7%, the U.S. with 19.4%, while Russia with 12.9%. Among the EU countries, Italy, Germany and Greece led in contributions.