Georgia Capital 3Q23 & 9M23 Performance Overview
USD MLN
USD BLN
IMPROVED EXTERNAL POSITION
TOTAL FX INFLOWS INCREASED BY 17.8% Y-O-Y AND AMOUNTED TO US$ 11.1 BLN
IN 9M23
GEORGIA
CAPITAL
CURRENT ACCOUNT DEFICIT HAS NARROWED SIGNIFICANTLY AS FDI CONTINUES
TO FULLY FINANCE THE DEFICIT
16
Export of goods
Money Transfers
Tourism revenues
Total FX Inflows
Goods, net
13.5
28%
Current transfers, net
Services, net
Current account
Investment income, net
FDI, inflows
14
12
11.1
18%
3.5
9.2% 7.8%
9.4
10
8.8
8%
8.2
3.3
7.8
8
6.8
2.5
4.4
-2%
3.3
5.8
1.2
5.2
5.4
3.2
6
3.2
2.7
0.5
2.3
2.8
-12%
-5.6%
1.7
4
1.9
2.1
1.6
1.9
-9.8%
-12.2%-11.4%
-10.2%
-8.1% -6.8% -5.9%
-4.6%
-5.3%
-10.4%
-8.6%
-12.5%
12.5%
1.4
-11.8%
1.1
1.2
5.6
-22%
2
3.4
3.8
4.2
4.6
4.1
3.3
2.7
2.2
2.1
-32%
0
1H22 1H23
2015
2016
2017
2018
2019
2020
2021
2022
9M22 9M23
Inflows from Others
5,000
4,000
3,000
2,000
1,000
0
EXTERNAL INFLOWS* EXCLUDING RUSSIA CONTINUE TO INCREASE
Inflows from Russia - Inflows from Others, YoY % (RHS)
1Q18
2Q18
3Q18
4Q18
1Q19
2Q19
3Q19
4Q19
1Q20
2Q20
3Q20
4Q20
1Q21
2Q21
3Q21
4Q21
1Q22
2Q22
3Q22
4Q22
1Q23
2Q23
3Q23
*External inflows include merchandise exports, remittances and tourism inflows.
Georgia Capital PLC | Source: Geostat, NBG. Bloomberg
USD/GEL
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
APPRECIATING SINCE MID-2021, BRIEFLY INTERRUPTED AFTER THE WAR, GEL HAS
NOW STRENGTHENED TO ABOVE PRE-PANDEMIC LEVELS AGAINST US$
80%
3.8
60%
3.3
40%
20%
2.8
0%
-20%
2.3
-40%
-60%
1.8
Oct-15
3.46
the
2.77
3.40
Jan-16
Apr-16
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
Apr-23
Jul-23
Oct-23
78
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