Tracking Georgia's Economic Recovery

800 600 400 200 0 -200 -400 -600 -800 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 500 400 300 200 100 о -100 -200 -300 -400 EXPORTS DOWN 12.1% YoY IN 9M20 Source: Geostat I N H H H H EXPORTS INCREASED FIRST TIME IN SEP-20 SINCE FEB-20 Feb-19 Mar-19 May-19 Jun-19 Nov-19 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Exports, US$ mn % change y/y TRADE DEFICIT DOWN 18.5% YoY IN 9M20 Source: Geostat Imports, US$ mn EXPORTS BY COMMODITY, 9M20 Oct-18 Trade deficit, US$ mn Nov-18 Dec-18 Feb-19 Jan-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 Apr-20 May-20 Jul-20 Jun-20 % change y/y Aug- 40% IMPORTS DOWN 15.9% YoY IN 9M20 Source: Geostat 60% 1,000 50% 800 40% 40% 600 30% 400 20% 8.6% 20% 200 10% О 0% 0% -9.0% -200 -10% -20% -400 -20% -600 -30% -40% -800 -40% Feb-18 Mar-18 Other 33.0% Nov-18 -10% Fertilizers 2.3% Gold -60% 2.9% Pharm. 3.0% Precious Wine metals Waters 3.2% 3.4% Spirits 6.0% 3.6% . Cars 12.7% Ferro-alloys 7.5% May- Copper .22.5% % change y/y Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Source: Geostat 67

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