Georgia recorded a trade deficit of 234.80 USD Million in April of 2020.

Balance of Trade in Georgia averaged -247.73 USD Million from 1995 until 2020, reaching an all time high of -6.34 USD Million in April of 1995 and a record low of -629.01 USD Million in December of 2014. This page provides the latest reported value for - Georgia Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Georgia Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020.

Balance of Trade in Georgia is expected to be -461.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Georgia to stand at -496.00 in 12 months time. In the long-term, the Georgia Balance of Trade is projected to trend around -484.60 USD Million in 2021 and -498.00 USD Million in 2022, according to our econometric models.

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Georgia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-234.80 -407.80 -6.34 -629.01 1995 - 2020 USD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2020-02-13 07:00 AM Jan $-357.1M $-542.0M $-516.6M
2020-03-13 07:00 AM Feb $-440.1M $-362.4M $-401M
2020-04-13 07:00 AM Mar $-403.1M $-435.7M $ -420M
2020-05-13 07:00 AM Apr $-234.8M $-407.8M $-449.9M
2020-06-13 07:00 AM May $-234.8M
2020-07-13 07:00 AM Jun $ -461M
2020-08-13 07:00 AM Jul
2020-09-14 07:00 AM Aug

News Stream
Georgia Trade Gap Narrows in October
Georgia’s trade deficit declined to USD 531.5 million in October of 2019 from USD 563.3 million in the corresponding month of the previous year. Exports rose 4.5 percent from a year earlier to USD 316.5 million while imports fell 2.1 percent to USD 848 million.
Georgia Trade Gap Shrinks in August
Georgia’s trade deficit narrowed to USD 435.1 million in August of 2019 from USD 497.4 million in the corresponding month of the previous year. Exports jumped 12.3 percent from a year earlier to USD 309.4 million and imports fell 3.7 percent to USD 744.5 million.
Georgia Trade Deficit Narrows in May
Georgia's trade gap declined to USD 417.2 million in May of 2019 from USD 488 million in the corresponding month of the previous year. Exports rose 3.5 percent to USD 334.3 million while imports fell 7.3 percent to USD 751.5 million. Considering the first five months of 2019, the country's trade deficit narrowed to EUR 2,025.6 million from EUR 2,339.8 million in the same period of 2018, as purchases declined 3.6 percent to USD 3,492.3 million whereas shipments grew 14.2 percent to USD 1,466.8 million.

Georgia Balance of Trade
Georgia's increasing trade deficits are a by-product of Russia's trade embargo. Georgia has failed to diversify its exports and relies heavily on agriculture and low value added resource exploration. Georgia's main imports are oil, motor cars, pharmaceutical products, wheat and meslin, sugar and electrical equipment. Georgia's main trading partners are Turkey, Azerbaijan, Ukraine, Germany, Russia, the United States and Bulgaria. .