In order to improve external sector statistics, National Bank of Georgia conducted study of foreign direct investments to abroad. As a result BOP and IIP statistics with respect to direct investments and their income are enhanced.

Current account deficit amounted to 525.4 million US dollars (872.0 million GEL) in the fourth quarter of 2011. It was 14.9 percent more compared to the preceding quarter.

During the accounting period, as compared to the previous quarter, export of goods increased by 167.9 million US dollars and import of goods increased by 232.6 million US dollars. As a result trade deficit increased totaling 1.0 billion US dollars (1.7 billion GEL). That is 6.7 percent more than the previous quarter figure and 33.5 percent more compared to the same quarter of 2010.

Within the fourth quarter, balance of services account was positive and equaled to 162.4 million US dollars (269.6 million GEL). The export of services was 508.4 million US dollars (843.9 million GEL) 16.5 percent less than in the previous quarter and 13.6 percent greater than the figure in the same quarter of 2010. Import of services amounted to 346.0 million US dollars (574.3 million GEL). That is 10.4 percent increase as compared to the fourth quarter of 2010 and by 0.2 million  US dollars less than the figure in preceding quarter.

From services account travel had the most significant positive balance (181.1 million US dollars or 300.5 million GEL). It has decreased by 29.8 percent compared to the previous quarter figure, while increased by 34.7 percent compared to the figure of the same period of 2010. The second positive component was transportation services constituting 7.2 million US dollars (11.9 million GEL). The export of this item has decreased by 6.7 percent compared to the previous quarter, while increased by 10.2 percent compared to the same quarter of 2010. As for imports, it has increased by 4.7 percent and 20.2 percent as compared to preceding quarter and the fourth quarter of 2010 respectively.

Balance of income was negative equaling -58.8 million US dollars (-97.5 million GEL) in the fourth quarter of 2011. Income credit amounted to 204.6 million US dollars (339.6 million GEL) 5.9 percent less than figure of the previous quarter and 28.6 percent higher than the figure for the same quarter of 2010. Income debit totaled -263.3 million US dollars (-437.1 million GEL) was 10.6 less than the previous quarter and 26.8 percent more than the figure of the same quarter of 2010.

Current transfers was the largest positive component of the current account and amounted to 398.1 million US dollars (660.8 million GEL). The quarterly and annual growth of this component was 24.6 percent and 28.6 percent respectively. Inflow of current transfers equaled 460.6 million US dollars (763.5 million GEL), while outflow made up 61.9 million US dollars (102.7 million GEL). Annual decrease of net current transfers of public sector was 25.3 percent, while other sectors current transfers increase was 39.3 percent.

Net capital transfers in the reporting period equaled to 21.5 million US dollars (35.7 million GEL). That is 23.8 percent less than the previous quarter figure and 74.9 percent decrease compared to the same period of 2010. Capital transfers of general government made up 17.5 million US dollars (29.1 million GEL). That is 28.9 and 78.4 percent decrease compared to the figures of the previous quarter and the same period of 2010 respectively.

Net foreign direct investments amounted to 225.3 million US dollars (374.0 million GEL) in the fourth quarter of 2011. Foreign direct investment to Georgia made up 337.5 million US dollars (560.2 million GEL), that is 27.4 percent increase as compared to the previous quarter and 57.7 percent increase as compared to the same quarter of 2010. Out of total foreign direct investments to Georgia investment in equity capital amounted to 178.4 million US dollars (296.1 million GEL), reinvested earnings – 112.5 million US dollars (186.7 million GEL), and other capital – 46.6 million US dollars (77.4 million GEL).

A positive balance of other investments amounted to 404.8 million US dollars (671.9 million GEL) in the reporting period. This item is increased 2.2 times compared to the previous quarter and by 39.1 percent on annual bases. Assets of other investments have decreased by 26.9 million US dollars (by 44.7 million GEL) in the fourth quarter of 2011. At the same time the liabilities grew by 377.9 million US dollars (627.2 million GEL) in the reporting period.

Official reserve assets increased by 100.7 million US dollars (167.2 million GEL) due to operational changes during the fourth quarter of 2011.