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

 

In the third quarter of 2021, the current account deficit totaled 368.1 million USD (1.1 billion GEL). The trade of goods and income account make negative contribution to current account, while services account and current transfers - positive. In the third quarter of 2021 current account deficit decreased by 35.5 percent annually and current account deficit to GDP from -13.2 percent to -7.2 percent.

 

Balance of goods is the major contributor to the current account. Trade of goods deficit increased by 29.7 percent annually and amounted to 1.0 billion USD (3.2 billion GEL) in the third quarter. Among them exports increased by 23.1 percent and imports by 25.8 percent annually.

 

Partially recovered travel export continued to grow in the third quarter to reached 566.0 million USD (1.8 billion GEL), that is halve of the value of corresponding period in 2019.

 

Net income account totaled -351.5 million USD (-1.1 billion GEL) in the third quarter of 2021. Compensation of employees, the positive component of income account increased by 23.6 percent and negative component, investment income, was up by 53.0 percent.

 

The current transfers balance is positive. Credit of current transfers increased by 23.0 percent annually totaling 608.3 million USD (1.9 billion GEL). The private sectors transfers was up by 25.1 percent to reach 562.7 million USD (1.8 billion GEL). At the same time government transfers decreased by 22.2 percent.

 

Net foreign direct investments amounted to 216.8 million USD (676.4 million GEL) accounting for 4.2 percent of GDP.

 

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