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Current account deficit in Georgia decreases by 6.5 percent

Business Materials 2 July 2011 12:20
In the first quarter, current account deficit amounted $355.3 million, which is 6.5 percent less compared to the previous quarter, the National Bank of Georgia told Trend.

Georgia, Tbilisi, July 2 / Trend, N.Kirtskhalia /

In the first quarter, current account deficit amounted $355.3 million, which is 6.5 percent less compared to the previous quarter, the National Bank of Georgia told Trend.

According to the report, exports of goods deceased by $58 million and imports of goods - by $140.3 million compared to the previous quarter. As a result trade balance deficit has decreased and amounted to $683 million, which is 10.8 percent less than the previous quarter and 34 percent more than in the first quarter of 2010.

During the reporting period, balance of services account was positive and totaled $145.8 million. The export of services hit $394.9 million and the import of services amounted to $249.1 million. The export of services in the first quarter of 2011 was 12 percent less than the previous quarter and 29.7 percent more compared to the same period of 2010. The import of services decreased by 17.8 and increased by 14.7 percent compared to the previous quarter and the first quarter of 2010 respectively.

During the reporting period, Balance of income hit $99.4 million. Income credit has amounted to $107.3 million that is 5 percent less than the same indicator for the previous quarter and 14 percent more than the figure of the same quarter of 2010.

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