Money transfers from Russia to Georgia decreased in 2024, falling by 65% to $541 million (a reduction of $987 million), according to statistics released by the National Bank of Georgia (NBG).

The data shows a notable pattern in transfers from Russia over recent years:
2021: $411 million
2022: $2 billion
2023: $1.5 billion
2024: $541 million

Total transfers to Georgia in 2024 amounted to $3.36 billion. While overall transfers decreased compared to the previous year, EU countries emerged as the primary source of transfers, showing 10.2% annual growth.

The top source countries for transfers in 2024 were:

– United States: $573 million (24% increase from 2023)
– Italy: $567 million (8% increase)
– Germany: $267 million (15% increase)
– Greece: $263 million (7% increase)
– Israel: $249 million

In December 2024, Georgia received $285.39 million in total transfers. The NBG noted that 96% of transfers came from 24 major partner countries, each transferring over $1 million that month. Outbound transfers from Georgia in December 2024 reached $34.8 million, marking a 7.6% increase compared to December 2023.