BAKU, Azerbaijan, July 10. The volume of remittances of individuals from Azerbaijan to Georgia in the first quarter of this year amounted to $7 million.
Data obtained by Trend from the Central Bank (CBA) indicates that this marks a 2.1 times decrease compared to the same period in 2024 ($14.6 million).
Meanwhile, Georgia's remittances to Azerbaijan totaled around $6.7 million, down by more than $2.5 million or 27.2 percent year-on-year ($9.26 million).
Georgia accounted for 6.2 percent of Azerbaijan’s total outbound remittances and 2.9 percent of total inflows during the reporting period.
Overall, individuals in Azerbaijan sent $112.6 million abroad in the first quarter of 2025, a decline of $18.8 million, or 14.3 percent, compared to the same period in 2024.
Moreover, Foreign remittances to Azerbaijan fell by over $64.9 million to $229.4 million, reflecting a year-on-year decrease of 22.1 percent.