Current account balance positive in third quarter - NBG publishes balance of payments report SS
Posted: Mon Jan 06, 2025 4:11 am
The National Bank of Georgia publishes the balance of payments report, according to which the current account surplus in the third quarter of 2024 amounted to 61.4 million USD (166.6 million GEL).
According to the National Bank, the current account balance is positive in the third quarter of 2024, with the trade in goods and income accounts making a negative contribution to the current account, while trade in Germany business fax list services and current transfers are positive. In the third quarter of 2024, the current account balance is positive and increased by USD 75.1 million annually, while the ratio to GDP improved from -0.2 percent to 0.7 percent.
The largest component of the current account was again trade in goods, with a negative balance that decreased by 6.9 percent year-on-year to USD 1.5 billion (GEL 4.1 billion). At the same time, exports of goods increased by 23.0 percent year-on-year, while imports increased by 9.9 percent.
Exports of travel services in the third quarter of 2024 amounted to 1.6 billion US dollars (4.2 billion GEL), which is 8.0 percent more than last year.
The net income statement for the third quarter of 2024 was -636.0 million USD (-1.7 billion GEL). Positive net labor compensation decreased by 42.2 percent, while negative net investment income increased by 0.4 percent.
According to the National Bank, the current account balance is positive in the third quarter of 2024, with the trade in goods and income accounts making a negative contribution to the current account, while trade in Germany business fax list services and current transfers are positive. In the third quarter of 2024, the current account balance is positive and increased by USD 75.1 million annually, while the ratio to GDP improved from -0.2 percent to 0.7 percent.
The largest component of the current account was again trade in goods, with a negative balance that decreased by 6.9 percent year-on-year to USD 1.5 billion (GEL 4.1 billion). At the same time, exports of goods increased by 23.0 percent year-on-year, while imports increased by 9.9 percent.
Exports of travel services in the third quarter of 2024 amounted to 1.6 billion US dollars (4.2 billion GEL), which is 8.0 percent more than last year.
The net income statement for the third quarter of 2024 was -636.0 million USD (-1.7 billion GEL). Positive net labor compensation decreased by 42.2 percent, while negative net investment income increased by 0.4 percent.