Trade Balance in Georgia

Georgia Trade Balance | Economic News & Forecasts

Georgia - Trade Balance

Available data already hints at the Covid-19 hit to the economy in Q1, which is set to accentuate even further in Q2. Economic activity contracted for the first time in over five years in March. The services sector particularly suffered as businesses closed due to the state of emergency, which has now been extended until 22 May. Similarly, merchandise exports collapsed in the same month as the spread of the coronavirus shuttered foreign demand, particularly from the U.S. and Russia. In late April, the government unveiled a six-phase plan to gradually reopen the economy over the next three months, and also presented a GEL 3.5 billion (around 6.0% of GDP) economic package aimed at supporting households and businesses deal with the pandemic’s impact. Moreover, on 1 May, the IMF approved a USD 200 million disbursement to help the country meet the urgent fiscal and external financing needs arising from the pandemic.

Georgia - Trade Balance Data

2014   2015   2016   2017   2018  
Trade Balance (USD billion)-4.3  -4.0  -3.9  -3.8  -4.1  

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Note: Trade balance in USD bn.
Source: National Bank of Georgia and FocusEconomics calculations.

Georgia Facts

Value Change Date
Exchange Rate2.860.0 %Jan 01
Stock Market0.10.55 %Jan 07

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