Page 25 - GEORptNov20

5.1.3​ Capital flows
Private transfers to Georgia up 22% y/y in July
The July volume of money transfers from abroad to Georgia amounted to $188.7mn (Georgian lari, or GEL, 578.0mn), up 22.1% y/y.
The most important source of such transfers to Georgia remained Russia (21.4% of the total). Compared to July 2019, the transfers from Russia to Georgia increased by 3.65%.
Transfers from Italy (15% of the total), US (12%) and Greece (11%) moved up by the more robust rates of 41% y/y, 34% y/y and 19% y/y, respectively.
Some 94.6% of the money transfers total from abroad came from 18 largest partner countries, with the volume of transfers from each of these countries exceeding $1mn in July. In July 2019, the share of these 18 countries was equivalent to 93.4% of the total volume of money transfers.
Also in July, $22.2mn (GEL 68.1mn) was transferred from Georgia to abroad, marking a 15.6% y/y increase.
25​ GEORGIA Country Report ​November 2020 ​ ​www.intellinews.com