Money transfers from Azerbaijan to Georgia down

By Trend

Money transfers from Azerbaijan to Georgia significantly decreased in June 2022, Trend reports with reference to the National Bank of Georgia (NBG).

According to the NBG's statistics, money transfers from Azerbaijan to Georgia in June 2022 amounted to $4.5 million, which is a decrease of 35.7 percent, compared to $7 million over the same month of last year.

Meanwhile, the remittance inflows from Georgia to Azerbaijan in the reporting month amounted to $2.2 million, which is an increase of 15.7 percent compared to the corresponding month of 2021 ($1.9 million).

Overall, the total volume of money transfers to Georgia in June 2022 amounted to $427.3 million, which is a twofold increase compared to June 2021 ($201.9 million).