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 December 31 of 2011 amounted to 11.2 billion of USD (18.6 billion of GEL), of which 3.7 billion of USD (6.1 billion of GEL) (32.9%) is public sector debt, 815.0  million of USD(1.4 billion of GEL) (7.3%) - National Bank’s debt, 2.1 billion of USD (3.5 billion of GEL) (19.0%) - Banking sector’s debt, 2.0 billion of USD (3.3 billion of GEL) (17.8%) - other sector’s debt and 2.6 billion of USD (4.3 billion of GEL) (23.0%) is intercompany lending. 95.2 percent of the Gross External Debt of Georgia is denominated in foreign currency.

During the fourth quarter of 2011, Gross External Debt of Georgia increased by 370.0 million of USD (614.7 million of GEL), In which, operational, price and other changes led to increase in gross external debt of Georgia by 438.4 million of USD (727.6 million of GEL), 25.9 million of USD (43.1 million of GEL) and 12.8 million of USD (21.3 million of GEL) respectively. Exchange rate changes led it’s decrease by 106.8 million of USD  (177.3 million of GEL).

Public sector debt has increased by 101.6 million of USD (168.7 million of GEL) during the reporting period,  of which, exchange rate changes has resulted it’s fall by 53.8 million of USD (89.2 million of GEL). Operational and price chages increased the public sectors external liabilities by 155.4 million of USD (258.0 million of GEL).

External liabilities of the National Bank of Georgia decreased by 51.6 million of USD (85.6 million of GEL), of which 37.1 million of USD (61.5 million of GEL) decline was due to operational changes and 14.5 million of USD (24.1 million of GEL) due to exchange rate changes.

External liabilities of banking sector, during the reporting period grew by 176.0 million of USD (292.1 million of GEL); Of which the 187.0 million of USD (310.5 million of GEL) was due to grew by operational changes and due to exchange rate changes was declared 11.0 million of USD (18.3 million of GEL) decline. Banking sector external liabilities’  96.8 percent (181.0 million of USD and 300.4 million of GEL) increase by the operational changes is on  Long-term loans. The short-term external liabilities of the banking sector has increased by 3.2 % due to operational changes, that is amounted to 6.1 million of USD (10.1 million of GEL).

Other sectors’ external liabilities increased by 102.0 million of USD (169.4 million of GEL), of which 95.7 million of USD (158.9 million of GEL) and 93.8 percent grow is on nonfinancial corporations’ external liabilities. Other sectors liabilities increased due to operational changes by 104.0 million of USD (169.4 million of GEL), due to other changes by 13.0 million of USD (21.6 million of GEL) and due to price changes 2.2 million of USD (3.6 million of GEL)  and decreaced due to exchange rate changes by 17.2 million of USD (28.5 million of GEL).

Intercompany lending increased by 42.2 million of USD (70.1 million of GEL). In which operational changes lead to it’s increace by 52.7 million of USD (87.4 million of GEL) and exchange rate changes and other changes lead to it’s decreace by 10.3 million of USD (17.1 million of GEL) and by 0.2 million of USD (0.3 million of GEL) respectively.

90.9 percent of increase in foreign liabilities was observed in loans denominated in foreign currency (336.8 million of USD and 559.0 million GEL) and 9.1 percent of grow is the loans dominated in national currency, which equals to 33.6 million of USD (55.7 million of GEL). By December 31 of 2001 the amount of the external liabilities dominated in foreign currency was 10.6 billion of USD (17.8 billion of GEL) and liabilities dominated in national currency was equal to 536.7 million of USD (896.4 million of GEL).