Georgia recorded a trade deficit of 492.80 USD Million in October of 2021. source: National Bank of Georgia

Balance of Trade in Georgia averaged -260.79 USD Million from 1995 until 2021, reaching an all time high of -6.34 USD Million in April of 1995 and a record low of -630.76 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 December of 2021.

Balance of Trade in Georgia is expected to be -440.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Georgia Balance of Trade is projected to trend around -500.00 USD Million in 2022, according to our econometric models.

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Georgia Balance of Trade

Calendar GMT Actual Previous Consensus TEForecast
2021-10-13 07:00 AM Sep $-552M $-511M $ -500M
2021-11-15 07:00 AM Oct $-492.8M $-559.5M $-590M
2021-12-13 07:00 AM Nov $-492.8M

Related Last Previous Unit Reference
Balance of Trade -492.80 -559.50 USD Million Oct/21
Current Account -383.30 -366.46 USD Million Jun/21
Current Account to GDP -12.30 -5.50 percent of GDP Dec/20
Imports 904.00 933.10 USD Million Oct/21
Exports 411.10 373.60 USD Million Oct/21
Remittances 623071.10 583669.60 USD Thousands Sep/21
External Debt 20630.41 20592.04 USD Million Jun/21
Capital Flows -396.21 -320.93 USD Million Jun/21
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. .