Page 19 - GEORptMar19

4.4.2 Retail sector dynamics
Retail sales rises at a slower rate of 12% y/y in 3Q18
Retail sales in Georgia increased 12% y/y in the third quarter of 2018, easing from the 16.4% y/y rise in the previous quarter, according to CEIC data.
In 2017, retail trade turnover reached GEL9,929.8mn, up from GEL8,101.9mn last year. 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 16.5% from 2000 to 2018.
5.0 External Sector & Trade
5.1 Balance of payments, current account
Georgia - External Trade 2012 2013 2014 2015 2016 2017 2018* 2019* Jan
External trade turnover ($ mn)
10,433 10,933 11,463 9,505 9,408 10,675 12,473.4 826.8
Export (FOB) ($ mn)
2,377 2,910 2,861 2,205 2,113 2,735 3,354.3 238.8
Import (CIF) ($ mn)
8,056 8,023 8,602 7,300 7,295 7,939 9,118.5 588.0
Balance ($ mn)
-5,680 -5,112 -5,741 -5,096 -5,181 -5,204 -5,763.6 -349.2
Export excluding re-export ($ mn)
1,606 1,812 1,873 1,637 1,657 2,070 2,297.1 158.9
Current account BPM6 ($ mn)
-1,853.0 -934.7 -1,763.6 -1,684.3 -1,934.9 -1,311.1 / /
Current account to GDP (%)
-11.7% -5.8% -10.7% -12.2% -12.9% -8.8% / /
Source: Geostat
19 GEORGIA Country Report March 2019 www.intellinews.com