Gross External Debt Statistics is harmonized with BOP statistics. Besides of public sector debt, it includes private sector's (Banking and Other sector) external debt.

Gross External Debt of Georgia by June 30 of 2012 amounted to 12.0 billion USD (19.7 billion GEL), of which 3.9 billion USD (6.3 billion GEL, 32.2%) is public sector debt; 706.0  million USD(1.2 billion GEL, 5.9%) - National Bank's debt; 2.1 billion USD (3.4 billion GEL, 17.3%) - Banking sector's debt, 2.5 billion USD (4.1 billion GEL, 20.6%) - other sector's debt and 2.9 billion USD (4.7 billion GEL, 24.0%) is intercompany lending. Gross external debt to GDP ratio for the last four quarter (period from the third quarter of 2011 up to the second quarter of 2012) amounted to 78.7 percent. 94.2 percent of the Gross External Debt of Georgia is denominated in foreign currency.

During the second quarter of 2012, Gross External Debt of Georgia increased by 389.7 million USD (636.3 million GEL) on quarterly base, where transactional and price changes led to increase by 539.2 million USD (880.3 million GEL) and 14.0 million USD (22.8 million GEL) respectively, while  exchange rate and other changes led to decrease by 119.9 million USD (195.7 million GEL) and 43.5 million USD (71.0 million GEL) respectively.

Public sector debt has increased by 53.2 million USD (86.7 million GEL), where transactional and price changes led to increase by 110.1 million USD (179.8 million GEL) and 6.6 million USD (10.7 million GEL) respectively, while exchange rate changes decreased the public sectors external liabilities by 63.5 million USD (103.6 million GEL). Public debt to GDP ratio for the last four quarter amounted to 25.4 percent.

External liabilities of the National Bank of Georgia decreased by 77.1 million USD (125.8 million GEL), where 61.0 million USD (99.7 million GEL) decline was due to transactional changes and 16.0 million USD (26.1 million GEL) due to exchange rate changes. Monetary authorities' debt to GDP ratio decreased by 0.6 percentage points compared to preceding quarter and amounted to 4.6 percent.

External liabilities of banking sector decreased by 15.6 million USD (25.5 million GEL); where transactional changes led to increase of debt by 20.1 million USD (32.8 million GEL), while exchange rate and other changes led to decrease of external debt by 12.9 million USD (21.1 million GEL) and 22.7 million USD (37.1 million GEL) respectively.

Other sectors' external liabilities increased by 362.5 million USD (591.8 million GEL), of which 342.4 million USD (559.0 million GEL), 94.5 percent of other sectors debt increase is due to nonfinancial corporations' external liabilities. Other sectors liabilities increased due to operational changes by 374.9 million USD (612.0 million GEL), due to price changes by 7.4 million USD (12.1 million GEL), while decreased due to exchange rate changes by 15.6 million USD (25.5 million GEL) and due to other changes by 4.2 million USD (6.9 million of GEL).

Intercompany lending increased by 66.7 million USD (109.0 million GEL). where transactional changes led to increase by 95.1 million USD (155.3 million GEL) while exchange rate and other changes decreased external debt by 11.8 million USD (19.3 million GEL) and 16.6 million USD (27.0 million GEL) respectively.

85.6 percent of increase in foreign liabilities was observed in loans denominated in foreign currency 333.5 million USD (544.4 million GEL) and 14.4 percent in loans dominated in national currency, 56.3 million USD (91.9 million GEL). By June 30 of 2012 the amount of the external liabilities dominated in foreign currency was 11.3 billion USD (18.6 billion GEL) and liabilities dominated in national currency equaled to 690.3 million USD (1.1 billion GEL).