Page 24 - bne IntelliNews George country report Sept 2017

Turkey, two of the largest sources of remittances.
Russia accounted for a third of total remittances sent in July, followed distantly by the US with $12.7mn, Italy ($12.1mn), Greece ($10.6mn), Israel ($10.5mn) and Turkey ($9.3mn).
5.1.4 Gross international reserves
Gross international reserves in Georgia amounted to GEL2,938.36mn in July, down marginally by 0.6% from GEL2,956.46mn m/m and up 2.9% from GEL2,856.37mn a year ago.
5.2 FDI
Georgia - FDI 2010 2011 2012 2013 2014 2015 2016
FDI ($ mn)
814.5 1,117.2 911.6 941.9 1,758.4 1,564.5 1,565.9
FDI (% of GDP)
Source: bne IntelliNews, Geostat, CEIC
7.47 7.51 5.25 5.93 10.6 11.23 11.69
FDI in Georgia only edged up 0.1% y/y in 2016 finalised figure shows
Foreign direct investment (FDI) in Georgia during 2016 has been recorded as 4.8% lower than preliminary figures indicated. I t amounted to $1.56bn, very marginally higher - at 0.1% - than the total for 2015, statistics agency Geostat reported on August 15.
Poised to grow by 4% in 2017, the Georgian economy has attracted more FDI in recent years in comparison to neighbouring countries thanks to higher overall GDP growth, business-friendly policies and the development of sectors like gas transit, real estate, transport and tourism.
Neighbours Azerbaijan and Turkey ranked as the leading sources of FDI, with $558mn and $203.5mn invested, respectively, followed by the UK ($118.8mn),
24 GEORGIA Country Report September 2017 www.intellinews.com