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 2022, the current account became positive and equaled 400.2 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 2022 current account accounted for 5.9 percent of GDP.

Balance of goods is significant contributor to the current account. Trade of goods deficit increased by 15.7 percent annually and amounted to 1.2 billion USD (3.3 billion GEL) in the third quarter. Among them exports increased by 50.8 percent and imports by 36.3 percent annually.

Services became the largest component of the current account due to increase in travel services exports. Its recovery started from the second quarter of the last year continued to grow in the following quarters to reached 1.4 billion USD (3.9 billion GEL) in the third quarter of 2022. That is up by 22.3 percent compared to the corresponding quarter of 2019.

Net income account totaled -508.4 million USD (-1.4 billion GEL) in the third quarter of 2022. Compensation of employees, the positive component of income account increased by 46.7 percent and negative component, investment income, was up by 40.0 percent.

 

The current transfers balance is positive. Credit of current transfers increased by 55.6 percent annually totaling 947.0 million USD (2.7 billion GEL). The private sectors transfers was up by 60.2 percent to reach 901.3 million USD (2.5 billion GEL).

Net foreign direct investments amounted to 687.2 1million USD (1.9 billion GEL) accounting for 10.1 percent of GDP.

 

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