BAKU: The volume of remittances from Georgia to Azerbaijan has experienced a significant increase, reaching $17.3 million in the first half of 2024. This marks a 13.98 percent rise compared to the same period in the previous year, reflecting a growing financial linkage between the two neighboring countries.

According to Trend News Agency, data obtained from the Central Bank indicates that the remittances from Georgia to Azerbaijan saw an increase of $2.1 million compared to last year. These transfers now constitute 3.1 percent of the total remittance volume received by Azerbaijan. In 2023, the total remittances from Georgia amounted to $37.4 million.

The overall volume of remittances by individuals from foreign countries to Azerbaijan totaled $1.654 billion by the end of 2023, highlighting the significant role that remittances play in the country’s economy.