Balance of Payments statistic is compiled according to the methodology provided by the IMF's "Balance of Payments Manual, Fifth edition".

The current account deficit totalled 417.7 million USD (1.2 billion GEL) in the first quarter of 2020. The trade of goods and income account make negative contribution to current account, while services and current transfers - positive. Current account deficit increased by 86.2 percent from -5.9 percent of GDP to -11.0 percent of GDP.

Balance of goods is the major contributor to the current account. Trade of goods deficit increased by 11.4 percent annually and amounted to 885.9 million USD (2.6 billion GEL) in the first quarter. Among them exports decreased by 6.2 percent, while imports increased by 1.2 percent annually. 

The positive balance of services (mostly due to exports of travel services) partially offsets the negative balance of goods. Exports of services decreased by 15.6 percent and imports by 3.1 percent. The balance of travel services is the largest positive component of the services account. Export of travel services decreased by 26.1 percent annually and amounted to 427.7 million USD (1.3 billion GEL).

The positive balance of the current transfers also reduced the current account deficit. Credit of current transfers increased by 10.5 percent annually totalling 404.7 million USD (1.2 billion GEL). The private sector transfers increased by 11.7 percent, while the government transfers were negative.

Net foreign direct investments amounted to 125.7 million USD (368.0 million GEL) accounting for 3.3 percent of GDP.

The presented statistical information is published on the website of the National Bank of Georgia under the heading "Statistics":https://www.nbg.gov.ge/index.php?m=306&lng=eng#external