Trade deficit down 4.9% y/y in September 2018
In September 2018, the trade deficit decreased 4.9% y/y to US$ 409.7mn as exports increased 17.1% y/y to US$ 301.7mn, while imports growth moderated to 3.3% y/y to US$ 711.4mn, according to GeoStat’s preliminary figures. In 9M18, trade deficit was up 15.5% to US$ 4.2bn as exports increased by 25.7% y/y to US$ 2.4bn and imports were up 19.1% y/y to US$ 6.7bn. Detailed foreign trade statistics will be available on October 19, 2018.
IMF expects 5.5% real GDP growth in Georgia for 2018
IMF has updated its World Economic Outlook and projects global growth at 3.7% for 2018 and 2019, which is 0.2ppts lower for both years compared to projections of April 2018. This downward revision reflects the negative effects of the trade measures, as well as a weaker outlook for some key economies arising from country-specific factors, tighter financial conditions, geopolitical tensions, and higher oil import bills. Notably, IMF has revised Georgia’s economic growth projection upwards to 5.5% for 2018 from 4.5% and expects 5.1% annual average real GDP growth in Georgia over 2019-23.
