Georgia's Economic Outlook 2020

800 600 400 200 о -200 -400 -600 -800 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Trade deficit, US$ mn Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Exports, US$ mn TRADE DEFICIT UP 1.7% Y/Y IN 1920 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Feb-19 Mar-19 Apr-19 RECENT TREND - EXPORTS AND IMPORTS DOWN IN MAR-20 67 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 % change y/y EXPORTS DOWN 5.9% Y/Y IN 1920 Source: Geostat IMPORTS DOWN 1.4% Y/Y IN 1920 Source: Geostat 600 70% 1,000 50% 500 400 800 40% 50% 300 200 100 о M MY I N H H H N H U H 009 30% 30% 400 20% 10% 200 10% о 0% -100 -10% -200 -10% -200 -300 -30% -400 -20% Aug-19 Sep-19 Oct-19 Nov-19 % change y/y Dec-19 Jan-20 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Source: Geostat 60% Imports, US$ mn EXPORTS BY COMMODITY, 1Q20 - % change y/y Copper 20.4% 40% Other 20% 0% Pharm. 1.6% 32.0% -20% Gold -40% 2.5% Cars 16.4% -60% Feb-20 Mar-20 Spirits. 3.0% Ferro-alloys Precious Waters 3.4% metals Fertilizers 3.6% 3.9% Wine 7.5% 5.7% Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Source: Geostat

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