As reported by the National Bank of Georgia, in the third quarter of 2019, the current account of the tax balance reached 16.5 million USD (48.1 million GEL).
The most considerable component of the current account was the trade with goods. Its negative balance annually reduced by 4.8% and reached 943.7 million USD (2.8 billion GEL).
Simultaneously, the export of the goods increased by 10.8% per annum while its import growth is 3.5%.
As the National Bank of Georgia reports, the positive balance of the service trade significantly covered the negative balance of the goods trade.
The service export reduced by 4.6% per annum while the import increased by 2.7%.
Current transfers represent another positive component of the account. The annual credit increased by 13.5% and reached 392.3 million USD (1.1 billion GEL) in the third quarter of 2019.
The pure direct foreign investments reached 356.4 USD (1.0 billion GEL) in the third quarter of 2019, which is 7.7% of the quarterly GDP.
Bela Gelashvili
News Author