Current account deficit came in at 9.4% of GDP or US$ 337.1mn (+97.3% y/y), according to NBG.
Merchandize trade deficit, traditionally the major contributor to deficit creation, declined by 39.8% y/y to US$ 530.1mn, as exports fell by 23.4% y/y, while imports were down by 30.3% y/y. Positive service balance declined by 98.4% y/y to US$ 9.0mn (0.3% of GDP), reflecting the drop of tourism inflows due to COVID pandemic.
Surplus in current transfers amounted to US$ 339.1mn (9.5% of GDP, up 1.4% y/y). Together, services and transfers financed 66% of the trade deficit. Notably, other investments at US$ 603mn were key funding source of CA deficit and net FDI stood at US$ 148.9mn.The international reserves were up by US$ 190.6mn.
See all the news
Regional Statistics of COVID-19
მთის კურორტებზე არსებული ბიზნესი ხელისუფლებას შეხვდა - გეგა სალუქვაძე საქმის კურსში
შესაძლოა, ბაზრობები 15 თებერვლამდე გაიხსნას
“აჭარისწყალი ჯორჯიას” ახალი აღმასრულებელი დირექტორი ჰყავს
Fines for Violation of Traffic Rules in Azerbaijan Amounted to USD 55 MLN during Jan-Sep 2020
Key Highlights in Global and Regional Markets
EASTERN EUROPEAN DNS FORUM WAS HELD IN GEORGIA
რატომ ვერ ვმართეთ კორონავირუსი? - #Forbesკვირა პროლოგი გიორგი ისაკაძე
Q&A: Ek Law Office
LVMH and Tiffany Agree on Lower Price for $16 Billion Takeover
Woman in Charge
Hualing FIZ: Four New International Companies to Establish Free Zone Businesses in Georgia
U.S. Investment Firm Asks Republic of Georgia for License to Mineral Rights on Block 12
Focus on Georgia - ADB
Focus on Ganja Gap in Nagorno-Karabakh’s Regional Conflict
Scientific Community Calls for Action Against Lockdowns
Georgian Government seize foreign-owned asset, referred to International Arbitration
Studying Abroad Costs Georgian Students €10,000–15,000
Franco Frattini - Georgia, straying from the rule of law