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о 400 300 200 100 500 RECENT TREND - GOODS TRADE DEFICIT DOWN Exports up 12.4% y/y in 2019 Source: Geostat Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Exports, US$ mn Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Trade deficit down 8.5%y/y in 2019 % change y/y Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 60% 1,000 800 50% 009 40% 400 30% 200 20% о 10% -200 -400 0% Jan-17 Imports down 0.8% y/y in 2019 Source: Geostat 50% 40% 30% 20% 10% 0% -10% Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Source: Geostat -20% 50% 40% 30% 20% 10% 10%% 0% 2% 1% -1% -10% -3%3% -14% -70407% 4% 50% 42% 40% 33% 30% 22% 21% 20% 17% 15% 14% 9% 9% 20% 10% 6% Hazelnuts 0% 1.8% -30% Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 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 Feb-19 N -4% -3%9%1%8% -12% -11% -13% -15% -23% -18% -4% -10% Gold -7% 1.9% -20% Fertilizers Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 -30% 2.5% BANK OF GEORGIA Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul- Aug-18 Imports, US$ mn Sep-18 Oct-18 Nov-18 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 % change y/y Exports by commodity, 2019 Source: Geostat Other 32.8% 8.0% Wine Spirits. 3.4% Waters Pharm. 5.9% 3.5% 4.6% Ferro-alloys Cars 18.2% Copper 17.3% 58 -20%

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