June 22, 2022 - 16:12 AMT
Remittances from Russia to Georgia grew by 889% in May

Remittances from Russia to Georgia amounted to $313.9 million – up by 888.78% year on year and by 136% against April, information published by the National Bank of Georgia reveals.

The volume of all money transfers in May 2022 amounted to $505.7 million, which is a 169.4% increase against May 2021, NewsGeorgia reports.

Russia became the absolute leader in terms of money transfers, accounting for 62.07% of all remittances to Georgia in May.

Following Russia are Italy ($36.8 million or 7.28% of the total), the United States ($27.78 million or 5.49% of the total), Kazakhstan ($20.81 million or 4.11%) and Greece ($20.33 million or 4.02%).