Current Account in Georgia

Georgia Current Account | Economic News & Forecasts

Georgia - Current Account

Preliminary data indicates that robust momentum carried over into the second quarter, with annual growth holding steady at Q1’s 4.9%. Upbeat activity in the real estate, trade and hospitality sectors seem to have underpinned the expansion. Moreover, the tourism sector was buoyant in Q2: Tourist arrivals—particularly from Russia—jumped and spending rose by nearly a quarter year-on-year, likely easing pressure on the current account deficit and lending further support to overall activity. Going forward, a sharp rebound in merchandise exports in July, which helped narrow the trade deficit from a year ago, signals a positive start for the third quarter. That said, Russia’s implementation of a flight ban that same month bodes ill for the crucial tourism industry and could thus weigh on the external sector in Q3.

Georgia - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-5.9  -10.8  -12.6  -13.1  -8.8  

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Georgia Current Account Chart

Georgia Current Account
Note: Current account balance as % of GDP.
Source: National Bank of Georgia and FocusEconomics calculations.

Georgia Facts

Exchange Rate2.960.0 %Sep 04
Stock Market0.10.55 %Sep 04

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