Page 21 - GEORptNov20

In 2017, retail trade turnover reached GEL9,929.8mn, up from GEL8,101.9mn in 2016. Retail sales, which has been growing at a strong double-digit pace for several years, grew by only 8-9% in 2015-16 as wage growth slowed and unemployment rose.
Retail sales y/y in Georgia averaged 16% from 2000 to 2019.
5.0​ External Sector & Trade
5.1​ Balance of payments, current account
Georgia - External Trade 2013 2014 2015 2016 2017 2018 2019 2020* Jan-Sep
External trade turnover ($ mn)
10,933 11,463 9,505 9,459 10,802 12,741 13,315 8,121.0
Export (FOB) ($ mn)
2,910 2,861 2,205 2,117 2,746 3,380 3,798 2,403.5
Import (CIF) ($ mn)
8,023 8,602 7,304 7,342 8,057 9,362 9,517 5,717.6
Balance ($ mn)
-5,112 -5,741 -5,100 -5,225 -5,311 -5,982 -5,719 -3,314.1
Export excluding re-export ($ mn)
1,812 1,819 1,603 1,620 2,008 2,226 2,324 1,720.4
Current account BPM6 ($ mn)
-955.5 -1,784.2 -1,767.0 -1,885.8 -1,307.5 -1,192.7 -900.5 /
Current account to GDP (%)
-5.8% -10.7% -12.2% -12.9% -8.8% -7.7% -5.1% /
Source: Geostat
5.1.1 ​Import/export dynamics
Georgia’s domestic exports up 14% y/y in Q3
Georgia’s domestic exports, including imported merchandise substantially enhanced in value and re-exported, grew by 2.8% y/y to $1.72bn in January-September.
The performance was much better compared to Georgia’s total exports, which contracted by 12.1% y/y to $2.4bn in the nine-month period.
21​ GEORGIA Country Report ​November 2020 ​ ​www.intellinews.com