Georgia’s trade deficit widened to USD 536.7 million in December of 2019 from USD 492.8 million in the corresponding month of the previous year. Balance of Trade in Georgia averaged -246.03 USD Million from 1995 until 2019, 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.

Balance of Trade in Georgia is expected to be -496.50 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 -490.00 in 12 months time. In the long-term, the Georgia Balance of Trade is projected to trend around -498.00 USD Million in 2020, according to our econometric models.

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Georgia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-536.70 -442.80 -6.34 -629.01 1995 - 2019 USD Million Monthly


Calendar GMT Actual Previous Consensus TEForecast
2019-10-15 07:00 AM Sep $-446M $-438.2M $ -418M
2019-11-13 07:00 AM Oct $-531.5M $-452.5M $-540M
2019-12-13 07:00 AM Nov $-436.8M $-436.9M $-440M
2020-01-14 07:00 AM Dec $-536.7M $-442.8M $ -496M
2020-02-13 07:00 AM Jan $-536.7M $-516.6M


News Stream
2019-09-13
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.

2019-06-13
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.

2019-05-13
Georgia Trade Gap Narrows in April
Georgia’s trade deficit declined to USD 423.6 million in April of 2019 from USD 505.8 million in the corresponding month of the previous year. Exports jumped 34.2 percent from a year earlier to USD 307.4 million while imports fell 0.4 percent to USD 731 million. Considering the first four months of 2019, the deficit was recorded at USD 1.6 billion, compared to a USD 1.9 billion gap in the same period of 2018.

2019-03-13
Georgia Trade Deficit Narrows in February
Georgia’s trade deficit declined to USD 376.5 million in February of 2019 from USD 415.3 million in the corresponding month of the previous year. Exports jumped 19.1 percent from a year earlier to USD 266.3 million while imports went up 0.6 percent to USD 642.7 million. Considering the first two months of 2019, the deficit was recorded at USD 729.7 million, compared to a USD 787.2 million gap in the same period of 2018.

2019-02-13
Georgia January Trade Gap Smallest in 2 Years
Georgia’s trade deficit narrowed to USD 349.2 million in January of 2019 from USD 371.9 million in the corresponding month of the previous year. It was the smallest trade gap since January 2017, as exports increased while imports declined. Exports rose 7.3 percent from a year earlier to USD 238.8 million while imports fell 1.1 percent to USD 588.0 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. .

Georgia Trade Last Previous Highest Lowest Unit
Balance of Trade -536.70 -442.80 -6.34 -629.01 USD Million [+]
Current Account 16.47 -144.56 16.47 -920.49 USD Million [+]
Current Account to GDP -7.70 -8.80 -5.27 -22.07 percent [+]
Imports 927.00 788.80 927.00 14.82 USD Million [+]
Exports 390.40 345.90 390.40 7.09 USD Million [+]
Terrorism Index 1.34 1.42 4.83 1.26 [+]
Remittances 421156.00 411157.00 421156.00 33643.00 USD Thousands [+]
Foreign Direct Investment 417.35 204.14 749.52 20.04 USD Million [+]
Capital Flows -11.11 159.48 964.54 -11.11 USD Million [+]
Crude Oil Production 0.40 0.40 2.80 0.40 BBL/D/1K [+]
External Debt 17792.49 18183.57 18183.57 2835.30 USD Million [+]