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

 

In the second quarter of 2022, the current account deficit totaled 252.1 million USD (755.5 million GEL). The trade of goods and income account make negative contribution to current account, while services account and current transfers - positive. In the second quarter of 2022 current account deficit decreased by 49.0  percent annually and current account deficit to GDP from -10.6 percent to -4.2 percent.

 

Balance of goods is the major contributor to the current account. Trade of goods deficit increased by 28.1 percent annually and amounted to 1.1 billion USD (3.3 billion GEL) in the second quarter. Among them exports increased by 31.4 percent and imports by 30.1 percent annually.

 

Partially recovered travel export continued to grow in the following quarters to reached 748.8 million USD (2.2 billion GEL) in the second quarter of 2022. That accounted for 85.3 percent of the value of corresponding period in 2019.

 

Net income account totaled -357.1 million USD (-1.1 billion GEL) in the second quarter of 2022. Compensation of employees, the positive component of income account increased by 35.3 percent and negative component, investment income, was up by 18.4 percent.

 

The current transfers balance is positive. Credit of current transfers increased by 34.4 percent annually totaling 763.8 million USD (2.3 billion GEL). The private sectors transfers was up by 34.2 percent to reach 707.3 million USD (2.1 billion GEL). At the same time government transfers decreased by 7.4 percent.

 

Net foreign direct investments amounted to 284.3 1million USD (851.9 million GEL) accounting for 4.7 percent of GDP.

 

The presented statistical information is published on the website of the National Bank of Georgia under the heading “Statistics”.