Balance of Payments of Georgia (IV Quarter 2017)

Balance of Payments of Georgia (IV Quarter 2017)

30 March, 2018

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 amounted to 530.9 million USD (1.4 billion GEL or 13.0 percent of the same period GDP) in the fourth quarter of 2017, at the same time in 2017 it equaled to 1.3 billion USD (8.7 percent of GDP).

The negative balance of goods is the major contributor to the current account deficit. Trade of goods deficit increased by 6.4 percent annually and amounted to 1.2 billion USD (3.0 billion GEL) in the fourth quarter. The same indicator in 2017 equaled to 3.8 billion USD declining by 0.7 percent year on year. Exports increased by 28.5 percent and imports by 15.8 percent annually in the fourth quarter. 

The positive balance of services (mostly due to exports of travel services) partially offsets the negative balance of goods. Exports of services increased by 18.5 percent and imports by 20.4 percent. The balance of travel services is the largest positive component of the services account. Export of travel services increased by 19.9 percent annually and amounted to 576.8 million USD (1.5 billion GEL).

The positive balance of the current transfers also reduced the current account deficit. Credit of current transfers increased by 21.5 percent annually totaling 407.1 million USD (1.1 billion GEL). Growth was observed for both the private and the government transfers.

Net foreign direct investments, significant item for financing the current account deficit, amounted to 416.5 million USD (1.1 billion GEL) accounting for 10.2 percent of the fourth quarter GDP. The largest investment inflows were directed to transport, financial and construction sectors.




The presented statistical information is publishedon the website of the National Bank of Georgia under the heading "Statistics":