Nov 15, 2018

Remittances increased by 11.6% YoY in October 2018

Quick Update

  • In October 2018 remittances increased by 11.6% YoY, or by 14 mln USD.  Growth expressed in EUR and GEL stood at 14.2% and 18.9%, respectively.
  • Higher remittances were mostly driven by remittances from EU (+27.8% YoY). Remittances also increased from CIS (+6.7% YoY), while growth remained broadly flat from other countries (+0.8% YoY).
  • From countries perspective main drivers of growth remained Italy (+31.3% YoY), USA (+16.9% YoY) and Greece (+16% YoY).