NBG: Current account deficit in 2020 amounted to USD two billion
According to the National Bank of Georgia, the current account deficit in 2020 amounted to USD two billion (GEL 6.1 billion) or 12.3 per cent of GDP. The current account deficit totalled USD 560.2 million (GEL 1.8 billion) in the fourth quarter of 2020, Trend reports citing 1tv.ge.
Trade of goods and services and income account make a negative contribution to the current account, while current transfers make a positive.
Net foreign direct investments amounted to USD 120 million (GEL 392.6 million) or 2.8 per cent of GDP.
NBG also reported that the gross external debt of Georgia amounted to USD 20.3 billion (GEL 66.5 billion) as of December 31, 2020. It accounted for 127.7 per cent of the 2020 annual GDP. The gross external debt of Georgia increased by USD 640.1 million during the fourth quarter of 2020.
According to the National Bank of Georgia, the net international investment position (IIP) of Georgia amounted to USD -24.8 billion (GEL -81.3 billion) as of December 31, 2020. It accounted for -156.3 per cent of the annual GDP. Net IIP deteriorated by USD 955.7 million compared to the previous quarter figure.
NBG reported that the total international assets amounted to USD 10.9 billion (GEL 35.8 billion) by December 31, 2020, down by USD 125.8 million quarterly.