Investor Presentaiton
-40%
-30%
2010
Goods, net
-20%
0%
10%
20%
-5.6%
-5.5%
-10%
-6.8%
-8.1%
-9.8%
-10.2%
-11.4%
-12.2%
-11.8% -12.5%
2011
Current transfers, net
2012
2013
2014
CURRENT ACCOUNT BALANCE ADJUSTING AFTER
RECORD LOWS
Current account balance (% of nominal GDP)
30%
Sources: NBG
GEORGIA
CAPITAL
Exports and Re-exports, US$ billion
Source: NBG
The CAB was -9.2% in 1H21, with the trade deficit slightly widening as imports
bounced back, albeit more than compensated by remittance inflows
30%
While service exports plummeted due to COVID-19, Georgian-originated goods
exports have proven resilient throughout the crisis and afterwards
2015
2016
Services, net
-Current account
2017
2018
2019
20%
Service exports Goods exports, geo-originated
Re-exports
1.0
0.8
0.5
1.1 0.9
0.4 0.3
10%
0.9
3.6
3.9
1.0
0.7
3.1
0.5
3.1 3.1
0.3
2.5
2.6
0.2
0.2
2.5
0.2
2.5
0.5
0%
0.1
3.3 0.6
0.1
1.9
0.0
1.8
2.1 1.6
0.0 0.0 0.0
1.3
1.4
4.0
4.5 4.6
0.5 10.5 0.6
0.7 1.0
2.6
3.0 3.0
3.1
3.3
1.4
1.9
0.5
0.6
0.7
0.9
1.1
1.3 1.3 1.6
2.0
1.6
1.0
0.9
-10%
-9.2%
-11.3%
-12.4%
2000
2001
2002
2003
2006
2007
2008
2017
FDI (components and % of nominal GDP)
-20%
Source: Geostat
Equity and Debt, US$ mn
Reinvestment of earnings, US$ mn
FDI, % of GDP
2,200
14%
12.2%
-30%
11.6%
10.9%
12%
1,700
10%
7.4%
7.5%
-40%
1,200
8%
2020
1H20
1H21
5.6%
4.5%
6%
700
3.9%
4%
200
I Investment income, net
2%
FDI, inflows
(300)
2015
2016
2017
2018
2019
2020
1H20
1H21
0%
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