Page 21 - GEORptJul19

The trade gap in the rolling 12 months ending March increased by only 2.4% y/y to $5.56bn. It was the lowest value seen since May 2018, but still one third of the country’s GDP estimated at nearly $17bn. Revenues from tourism and wage remittances are balancing the country’s deep deficit in trade with goods making it vulnerable in principle to external shocks—but for the time being the tourism outlook is robust and wage remittances keep growing.
Georgia’s exports of goods are also increasing constantly. They were up by 12.3% y/y to $321mn in March. Over the rolling 12 months, exports were worth $3.45bn, or up 19.4% y/y. The value was the highest recorded in past decade.
Imports contracted by 12.4% y/y to $740mn in March and the 12-month rolling value increased by only 8.3% to $9bn—more than twice as much as exports over the same 12-month period.
21 GEORGIA Country Report July 2019 www.intellinews.com