Georgia’s trade deficit widened to USD 565.5 million in October of 2018 from USD 468 million in the corresponding month of the previous year, as imports rose more than exports. Exports rose 15 percent from a year earlier to USD 303 million and imports went up at a faster 18.7 percent to USD 867.9 million. Considering the first ten months of 2018, the deficit was recorded at USD 4.8 billion, compared to a USD 4.1 billion gap in the same period of 2017. Balance of Trade in Georgia averaged -233.45 USD Million from 1995 until 2018, 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 -477.90 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 -490.10 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
2018-08-13 07:00 AM Balance of Trade $-504M $-468.6M $ -449.3M
2018-09-13 07:00 AM Balance of Trade $-486.5M $-512.4M $ -446.1M
2018-10-16 07:00 AM Balance of Trade $-409.7M $-492.3M $ -477.8M
2018-11-13 07:00 AM Balance of Trade $-565M $-415.4M $ -443.5M
2018-12-13 06:00 AM Balance of Trade $-565M $ -445M
2019-01-16 03:00 AM Balance of Trade
2019-02-13 07:00 AM Balance of Trade


Georgia Trade Last Previous Highest Lowest Unit
Balance of Trade -565.00 -415.40 -6.34 -629.01 USD Million [+]
Current Account -382.00 -443.00 -37.90 -925.90 USD Million [+]
Current Account to GDP -8.70 -12.90 -5.27 -22.07 percent [+]
Imports 867.90 717.10 867.90 14.82 USD Million [+]
Exports 303.00 301.70 323.30 7.09 USD Million [+]
Terrorism Index 2.11 1.26 4.83 1.26 [+]
Remittances 389221.00 354973.00 410483.00 33643.00 USD Thousands [+]
Foreign Direct Investment 389.20 287.00 740.50 79.60 USD Million [+]
Capital Flows 320.82 426.62 881.90 1.50 USD Million [+]
Crude Oil Production 0.40 0.40 2.80 0.40 BBL/D/1K [+]
External Debt 17410.96 17466.75 17466.75 2835.30 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
-565.00 -415.40 -6.34 -629.01 1995 - 2018 USD Million Monthly




Country Last Previous
Argentina 277.00 Oct/18
Australia 2316.00 Oct/18
Brazil 4062.09 Nov/18
Canada -1165.20 Oct/18
China 447.40 Nov/18
Euro Area 13141.70 Sep/18
France -4052.00 Oct/18
Germany 18300.00 Oct/18
India -17130.00 Oct/18
Indonesia -1819.90 Oct/18
Italy 1274.37 Sep/18
Japan -449.26 Oct/18
Mexico -2936.00 Oct/18
Netherlands 4949.00 Sep/18
Russia 19697.00 Oct/18
Saudi Arabia 162782.00 Jun/18
Singapore 4520.91 Oct/18
South Africa -5549.90 Oct/18
South Korea 5139.00 Nov/18
Spain -3297100.00 Sep/18
Switzerland 2637.00 Oct/18
Turkey -456.10 Oct/18
United Kingdom -3300.00 Oct/18
United States -55488.00 Oct/18


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