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. Balance of Trade in Georgia averaged -242.63 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 -418.00 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 -496.50 in 12 months time. In the long-term, the Georgia Balance of Trade is projected to trend around -484.60 USD Million in 2020, according to our econometric models.

Georgia Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-13 07:00 AM Balance of Trade May $-417.2M $-436.2M $-470M
2019-07-15 07:00 AM Balance of Trade Jun $-380.7M $-425M $-468M
2019-08-13 07:00 AM Balance of Trade Jul $-435.7M $-386.8M $-530M
2019-09-13 07:00 AM Balance of Trade Aug $-435.1M $-440.3M $-500M
2019-10-15 07:00 AM Balance of Trade Sep $-435.1M $ -418M
2019-11-13 07:00 AM Balance of Trade Oct $-540M
2019-12-13 06:00 AM Balance of Trade Nov $-440M


Georgia Trade Last Previous Highest Lowest Unit
Balance of Trade -435.10 -440.30 -6.34 -629.01 USD Million [+]
Current Account -139.60 -232.30 6.00 -925.90 USD Million [+]
Current Account to GDP -7.70 -8.80 -5.27 -22.07 percent [+]
Imports 744.50 767.10 866.20 14.82 USD Million [+]
Exports 309.40 326.80 335.80 7.09 USD Million [+]
Terrorism Index 1.42 2.11 4.83 1.26 [+]
Remittances 421156.00 411157.00 421156.00 33643.00 USD Thousands [+]
Foreign Direct Investment 187.00 286.10 740.50 79.60 USD Million [+]
Capital Flows 369.90 387.70 882.30 1.50 USD Million [+]
Crude Oil Production 0.40 0.40 2.80 0.40 BBL/D/1K [+]
External Debt 18183.57 17798.72 18183.57 2835.30 USD 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. . 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 - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-435.10 -440.30 -6.34 -629.01 1995 - 2019 USD Million Monthly




Country Last Previous
Argentina 1168.00 Aug/19
Australia 5926.00 Aug/19
Brazil 2250.00 Sep/19
Canada -955.30 Aug/19
China 396.50 Sep/19
Euro Area 24789.70 Jul/19
France -5019.00 Aug/19
Germany 16205.00 Aug/19
India -13450.00 Aug/19
Indonesia 85.10 Aug/19
Italy 7630.87 Jul/19
Japan -136.30 Aug/19
Mexico 775.00 Aug/19
Netherlands 3879.00 Aug/19
Russia 12006.00 Aug/19
Saudi Arabia 127500.00 Jun/19
Singapore 3787.85 Aug/19
South Africa 6842.94 Aug/19
South Korea 5973.00 Sep/19
Spain -2490000.00 Jul/19
Switzerland 1152.71 Aug/19
Turkey -2500.39 Aug/19
United Kingdom -1546.00 Aug/19
United States -54896.00 Aug/19


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