Bank of Georgia Growth and Reform Strategy
CURRENT ACCOUNT DEFICIT SUPPORTED BY FDI
Current account balance (% of nominal GDP)
CA deficit at record low 2.7% of GDP in 9M19
Source: NBG, Geostat
Source: NBG, Geostat
30%
Goods, net
Income, net
-CA deficit
Services, net
Transfers, net
.net FDI
20%
9.5%
10.4%
8.1%
8.2%
Income (net)
6.0%
6.5%
Trade deficit
-20.4%
-23.1%
-4.2%
-4.9%
■9M19
■9M18
10%
4.6% 5.3%
5.3%
0%
Current Transfers (net)
-10%
-5.6%
-8.1%
-6.8%
-9.8%
-12.2% -11.4%
-10.2%
Services (net)
-11.8%
7.9%
7.7%
14.0%
14.5%
-20%
-12.4%
-30%
-2.7%
CA deficit
-5.8%
2010
2011
2012 2013 2014
2015
2016
2017
2018
FDI and capital goods import
Building international reserves, US$ bn
Source: Geostat
Source: NBG
18%
16%
4.0
3.5
3.3
14%
12.1%
11.6%
3.5
3.0
10.9%
12%
2.8
2.9
2.8
3.0
2.7
2.8
10.4%
8.5%
2.5
10%
7.5% 8.1%
8.0%
7.1%
2.5
2.3
8%
6.5%
8.7%
2.0
6%
7.2% 7.9%
7.6% 7.2%
7.1%
7.2%
6.4%
4%
6.0%
1.5
5.7%
1.0
2%
0%
0.5
2012
2015
2018
9M19
0.0
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
FDI to GDP, %
--Capital goods imports to GDP, %
BANK OF GEORGIA
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