Current account deficit of Georgia’s balance of payments increases in Q4 2013

Photo: Current account deficit of Georgia’s balance of payments increases in Q4 2013 / Georgia

Tbilisi, Georgia, April 1
By Nana Kirtzkhalia - Trend

The current account deficit of the balance of payments increased by 5.4 percent and amounted to $390.1 million in the fourth quarter of 2013.

However, the current account deficit compared to GDP in the fourth quarter was 8.6 percent, while 5.9 percent in 2013 or by 5.8 percent less than in 2012, the Georgian National Bank told Trend on March 31.

The trade has a leading role in the formation of the current account negative balance.

Its balance in the fourth quarter increased by 7.9 percent on an annual rate and decreased by 17.3 percent quarterly and totaled $1 billion.

The exports of goods amid a 41.5 percent annual growth amounted to $1.3 billion, while imports amid a 14.3 percent increase - $ 2.3 billion. The balance of trade increased by 17.2 percent and amounted to $ 3.5 billion in 2013 compared to the previous year.

The negative balance of income in the fourth quarter amounted to $15.2 million.

Translated by NH
Edited by CN

Follow us on Twitter @TRENDNewsAgency

Tags:
 
MOST READ