Money transfers down 2.5% y/y in 2014
Money transfers decreased 2.5% y/y in 2014, with Russia accounting for 49.2% of total, followed by Greece (14.2%), Italy (8.4%), USA (5.7%) and Turkey (4.5%). In 2014 remittances significantly increased from Turkey (+54.2%), Germany (+36%), Israel (+19.7%) and Spain (+10.5%). Money transfers decreased 24.9% y/y in December. Remittances from Russia accounting for 40.4% of total in December experiencing the biggest decline 43.2% this year. In December, money transfers strongly grew from Turkey (+58.5%), Israel (+47.2%), Germany (+30.7%), USA (+19.7%) and Azerbaijan (+16.1%).
Exports down 2% y/y; imports up 7% y/y in 2014
Exports decreased 2% y/y at US$ 2.9bn, while imports were up 7% y/y at US$ 8.6bn in 2014, according to GeoStat preliminary figures. While in December exports decreased by 19.5% y/y and imports increased by 5.2% y/y. As a result, trade deficit reached US$ 5.7bn, up by 12% in 2014.
International cooperation to support Georgia continues, €44.5mn EU programme
On January 15, Georgia and EU signed a financing agreement for the amount of €44.5mn to help Georgia implement DCFTA and promote the private sector development
