Georgia recorded a trade deficit of 399.30 USD Million in September of 2020.

Balance of Trade in Georgia averaged -252.43 USD Million from 1995 until 2020, 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 October of 2020.

Balance of Trade in Georgia is expected to be -490.00 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 -496.00 in 12 months time. In the long-term, the Georgia Balance of Trade is projected to trend around -484.60 USD Million in 2021 and -498.00 USD Million in 2022, according to our econometric models.

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Georgia Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
-399.30 -353.70 -6.34 -630.76 1995 - 2020 USD Million Monthly

Calendar GMT Actual Previous Consensus TEForecast
2020-07-13 07:00 AM Jun $-309.4M $-266M $ -461M
2020-08-13 07:00 AM Jul $-442M $-311M $-234M
2020-09-14 07:00 AM Aug $-350.8M $-424.3M $-350M
2020-10-13 07:00 AM Sep $-399.3M $-353.7M $ -461M
2020-11-13 07:00 AM Oct $-399.3M $-355M
2020-12-14 07:00 AM Nov $-320M

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. .