Tendencies of Money Transfers

Tendencies of Money Transfers

15 December, 2008

In September-November of the current year the trend for growth of money transfers from foreign countries to Georgia was restored. In November the volume of money transfers from abroad constituted 91.4 million USD, which is 6.7 percent more than the same figure for October 2007.

The volume of money transfers from Russia is also returning to the pre-war dynamics:

 

2008

 

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Money transfers, million USD

 

62.1

 

71.2

 

80.4

 

83.6

 

80.6

 

84.4

 

97.5

 

73.8

 

86.1

 

92.1

 

91.4

Of which transfers from Russia

 

36.0

 

38.0

 

50.1

 

51.4

 

48.3

 

53.5

 

63.4

 

45.0

 

54.2

 

56.8

 

62.5

92.4 percent of total money transfers from abroad fall on those big eight donor countries, from which the volume of such transfers exceeds 1 million USD. It is noteworthy that in November of last year share of these 8 countries constituted 91.3 percent of the total volume of money transfers.  

 

Volume of money transfers in November, 2008

Million US Dollars

Structure of money transfers by the biggest donor countries %

November, 2007

November, 2008

Total     

91.4

100.0

100.0

Russia

62.4

62.7

68.3

Ukraine

6.1

2.3

6.7

USA

5.7

7.5

6.2

Greece

3.4

1.7

3.7

Italy

2.6

10.3

2.8

Turkey

1.7

2.0

1.9

Spain

1.3

4.7

1.5

Armenia

1.2

0.1

1.3

It is notable, that in November of the current year 6.2 million USD were transferred from Georgia, i.e. twice less than in November 2007. The volume of money transfers from Georgia to Russia and Ukraine decreased significantly, by 3.8 million USD (58.9 percent) and 1.2 million USD (56.6 percent).

In November the most popular among the fast money transfer systems for sending money to Georgia were: Contact (28.0 percent of total amount), Western Union (19.2 percent), Anelic (14.4 percent), Unistream (13.0 percent), Быстрая почта (5.5), Money Gram (5.3 percent),  Intel Express (4.7 percent).

For money transfer from Georgia most popular in November were Western Union (48.6 percent), Anelik (17.3 percent), Быстрая почта (10.8), Intel Express (7.1 percent), Unistream (6.4 percent). 

Present statistical information is being published on the statistics headlines.