Money transfers from Kyrgyzstan to Georgia dramatically increase
By Trend
Money transfers from Kyrgyzstan to Georgia dramatically increased in June 2022, Trend reports with reference to the National Bank of Georgia (NBG).
According to the NBG, money transfers from Kyrgyzstan to Georgia in June 2022 amounted to $6.9 million, which is a sixfold increase, compared to $1.1 million over the same month of last year.
Thus, Kyrgyzstan in June 2022 ranked 9th in terms of remittances to Georgia, while Russia placed first ($231.4 million), followed by Italy ($35.5 million) and the US ($27.6 million).
Meanwhile, the total volume of money transfers from Georgia to Kyrgyzstan in the reporting month amounted to $200,000, which remained constant compared to the corresponding month of 2021.
Overall, the total remittance inflows to Georgia in June of this year reached $427.3 million, which is a twofold increase compared to June 2021 ($201.9 million).
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