Georgia increased the volume of money transfers abroad in July, with Azerbaijan surpassing Turkey for the first time in a year to become the main destination for such operations. According to the National Bank of Georgia, a total of $39 million was sent from the country – 4.7% more than a year earlier.

Most of the funds went to Azerbaijan – $6.985 million. Turkey was in second place with $6.435 million, and Russia took third with $3.663 million. This was followed by Ukraine ($2.436 million), Uzbekistan ($2.430 million), Greece ($2.247 million), Kazakhstan ($1.916 million), Italy ($1.395 million), Germany ($1.168 million), and Armenia ($1.029 million).

Meanwhile, the flow of money in the opposite direction is significantly higher. In July, Georgia received $350.05 million, which is 3.9% more than the figure a year ago. Almost the entire volume – 97.6% – was provided by 29 major partner countries, each of which sent more than $1 million to Georgia.

Thus, the difference between incoming and outgoing transfers amounted to about $311 million in favor of Georgia.