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

 

In the fourth quarter of 2022, the current account deficit totaled 540.0 million USD (1.5 billion GEL). The trade of goods and income account make negative contribution to current account, while services account and current transfers - positive. In the fourth quarter of 2022 current account deficit decreased by 8.9 percent annually and current account deficit to GDP from -10.9 percent to -7.2 percent. For 2022 annual current account to GDP ratio amounted to 4.1 percent.

 

Balance of goods is the major contributor to the current account. Trade of goods deficit increased by 65.4 percent annually and amounted to 1.8 billion USD (5.0 billion GEL) in the fourth quarter. Among them exports increased by 23.2 percent and imports by 40.1 percent annually.

 

The travel export, that started recovering from the second quarter of 2021, reached 999.5 million USD (2.7 billion GEL) in the fourth quarter of 2022, up by 45.7 percent compared to the corresponding quarter of 2019.

 

Net income account totaled -356.5 million USD (-974.5 million GEL) in the fourth quarter of 2022. Compensation of employees, the positive component of income account increased by 85.3 percent and negative component, investment income, was up by 25.4 percent.

 

The current transfers balance is positive. Credit of current transfers increased by 33.3 percent annually totaling 948.2 million USD (2.6 billion GEL). The private sectors transfers was up by 41.6 percent to reach 873.2 million USD (2.4 billion GEL). At the same time government transfers decreased by 66.4 percent.

 

Net foreign direct investments amounted to 218.6 million USD (597.5 million GEL) accounting for 2.9 percent of GDP.

 

The presented statistical information is published on the website of the National Bank of Georgia under the heading “Statistics”: https://nbg.gov.ge/en/statistics/statistics-data