Balance of Payments of Georgia (III quarter of 2012)
Current account deficit amounted to 454.6 million US dollars (750.6 million GEL) in the third quarter of 2012. That is 10.3 percent decrease on yearly base.
Export of goods increased by 146.3 million US dollars and import of goods by 304.4 million US dollars as compared to the same quarter of previous year. As a result trade deficit increased totaling 1142.3 million US dollars (1.9 billion GEL). That is 16.1 percent higher compared to the same quarter of 2011.
Balance of services account was positive and equaled 360.4 million US dollars (595.1 million GEL). The export of services was 790.4 million US dollars (1.3 million GEL), 28.3 percent more than the figure of the same quarter of 2011. Import of services amounted to 430.1 million US dollars (710.1 million GEL). That is 24.0 percent increase as compared to the second quarter of 2011.
From services account travel had the most significant positive balance (411.7 million US dollars or 679.8 million GEL). It has increased by 56.6 percent compared to the figure of the same period of 2011.
Balance of income was negative equaling -8.2 million US dollars (-13.6 million GEL). Income credit amounted to 251.7 million US dollars (415.7 million GEL), 13.9 percent higher than the figure for the same quarter of 2011. Income debit totaled 260.0 million US dollars (429.3 million GEL) was 21.7 percent less than the figure of the same quarter of 2011.
Current transfers was the largest positive component of the current account and amounted to 335.6 million US dollars (554.4 million GEL). The annual growth of this component was 5.1 percent. Inflow of current transfers equaled 362.7 million US dollars (599.0 million GEL), while outflow made up 27.0 million US dollars (44.8 million GEL). Annual decrease of net current transfers of public sector was 30.8 percent, while other sectors current transfers increase was 8.6 percent.
Net capital transfers inflow equaled to 28.3 million US dollars (46.7 million GEL).
Net foreign direct investments amounted to 136.2 million US dollars (224.9 million GEL) in the third quarter of 2012. Foreign direct investment to Georgia made up 195.4 million US dollars (322.7 million GEL), that is 38.3 percent decrease as compared to the same quarter of 2011. Out of total foreign direct investments to Georgia investment in equity capital amounted to 59.9 percent; reinvested earnings to 27.9 percent and other capital to 12.2 percent.
Balance of portfolio investments amounted to 298.4 million US dollars (492.7 million GEL). Outward investments amounted to 0.3 million US dollars (0.6 million GEL), while investment to Georgia made up 298.7 million US dollars (570.4 million GEL). Portfolio investments liabilities increased due to issue of new debt securities by Georgian railways.
Positive balance of other investments amounted to 84.7 million US dollars (139.9 million GEL). Of which asset increased by 370.7 million USD (612.2 million GEL) due to increase of deposits. At the same time, liabilities grew up by 455.5 million USD (752.1 million GEL). Other investment liabilities increased due to private sector's loans.
During the third quarter of 2012 official reserve assets increased by 108.2 million US dollars (178.7 million GEL) due to transactional changes and amounted to 2.9 billion US dollars (4.8 billion GEL), that covers 3.8 months of imports.