Georgia recorded a trade deficit of 608.70 USD Million in June of 2022. source: National Bank of Georgia

Balance of Trade in Georgia averaged -268.67 USD Million from 1995 until 2022, reaching an all time high of -6.34 USD Million in April of 1995 and a record low of -631.30 USD Million in December of 2021. 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 August of 2022.

Balance of Trade in Georgia is expected to be -700.00 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 -850.00 USD Million in 2023 and -920.00 USD Million in 2024, according to our econometric models.

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Georgia Balance of Trade

Calendar GMT Actual Previous Consensus TEForecast
2022-06-20 07:00 AM May -$594.8M -$541.3M $-550M
2022-07-19 07:00 AM Jun -$608.7M -$612M -$605M
2022-08-19 07:00 AM Jul -$608.7M $-620M

Related Last Previous Unit Reference
Balance of Trade -608.70 -612.00 USD Million Jun 2022
Current Account -598.40 -567.60 USD Million Mar 2022
Current Account to GDP -9.80 -12.40 percent of GDP Dec 2021
Imports 1047.20 1134.70 USD Million Jun 2022
Exports 438.60 522.60 USD Million Jun 2022
External Debt 22063.55 21832.01 USD Million Mar 2022
Capital Flows -649.27 -527.86 USD Million Mar 2022
Remittances 545324.60 643515.80 USD Thousands Mar 2022

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. .
Actual Previous Highest Lowest Dates Unit Frequency
-608.70 -612.00 -6.34 -631.30 1995 - 2022 USD Million Monthly