The volume of remittances in Georgia are 2 times higher than direct foreign investments. In particular, if during the last 5 years (2023 data covers only 3 quarters) the volume of direct foreign investments in the country amounted to $6,688 billion, 13,580 billion US dollars were transferred to Georgia in the form of remittances.
According to the latest statistics, in the 3rd quarter of 2023, direct foreign investment of $1.388 billion was made in Georgia, and remittances amounted to $2.239 billion, which is 2 times more here.
Regarding specifically the third quarter of 2023, FDI amounted to $316.0 million, which is 61.5% less compared to the same period of the previous year. In the case of remittances in the reporting period, only a 15.1% reduction is recorded, although the remittances received in the third quarter - $871.9 million - exceed investments by 2.7 times.
It should be noted that in the last 5 years, in total, almost $6.8 billion more remittances than direct foreign investments were made in the country.
Remittances 2019-2023 years:
2019 - $1.733 billion
2020 - $1.885 billion
2021 - $2.349 billion
2022 - $4.372 billion
3rd quarter of 2023 - $3.239 billion
Direct foreign investments 2019-2023 years:
2019 - $1.354 billion
2020 - $595.3 million
2021 - $1.252 billion
2022 - $2.098 billion
3rd quarter of 2023 - $1.388 billion
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