Current account deficit of balance of Georgia payments amounts to $514.1 million
Georgia, Tbilisi, Dec 30 /Trend N.Kirtzkhalia/
The current account deficit of Georgia payments balance amounted to $514.1 million (853.2 million lari) in the third quarter of 2011, which is 15.3 per cent more than in the previous quarter.
According to Gruzstat, exports fell by $63.3 million, while imports increased by $166.9 million during the reporting period compared to the second quarter and the trade deficit increased as a result reaching $962.5 million (1.6 billion lari. This is 31.4 per cent more compared to the previous quarter and 45.5 per cent more than in the third quarter of 2010.
The services sector balance is positive standing at $263.0 million (436.4 million lari) in the third quarter. The export of services was $608.9 million (1.0 billion lari), which is 30.9 per cent more than the previous quarter and 23.6 per cent more than on the same period in 2010. Imports of services amounted to $345.8 million (573.9 million lari), which is 9.8 per cent more than the previous quarter and by 18.9 per cent more than on the same period in 2010.
The highest rate balance is in the travel industry ($257.9 million, or 427.9 million lari), which is 58.4 per cent more than the previous quarter and by 45.8 per cent over the same period in 2010.
The second positive component is transport services ($30.7 million, or 50.9 million lari), rising 126 per cent and 14.9 per cent respectively.
Net foreign investment in the third quarter of 2011 amounted to $268.0 million (444.7 million lari). Foreign direct investment amounted to $266.0 million (441.5 million lari), which is 35.0 per cent more than the previous quarter and by 17.6 per cent more than in the same period in 2010.
Shareholders' capital from direct foreign investment in Georgia amounted to $128.5 million (213.2 million lari), reinvested earnings $93.3 million (154.8 million lari) and other $44.3 million ($ 73.5 million lari).
The surplus of other investments amounted to $230.6 million (382.6 million lari), that is a 66.5 per cent increase from the previous quarter. Investment balance was negative (-$108.5 million) in the same period of 2010.