Trade deficit down 34.8% y/y in October 2020
In October 2020, trade deficit narrowed by 34.8% y/y to US$ 393.5mn according to Geostat’s preliminary figures, as exports decreased by 2.2% y/y to US$ 312.6mn, while imports fell markedly by 23.5% y/y to US$ 706.1mn. In 10M20, trade deficit was down 20.2% y/y to US$ 3.7bn as exports decreased by 11.1% y/y to US$ 2.7bn and imports were down 16.6% y/y to US$ 6.4bn. Detailed foreign trade statistics will be available on November 19, 2020. 

NBG sold US$ 37mn 
On 10 November 2020, the NBG intervened on the FX market and sold US$ 37.2mn out of offered US$ 40mn to support the GEL. This was 22nd FX intervention YTD for a total sale of US$ 746.9mn through FX auctions.