Exports up 32.0% y/y in June 2018
In June 2018, exports increased 32.0% y/y to US$ 308.9mn, imports grew by 19.8% y/y to US$ 771.2mn and the trade deficit widened 12.8% y/y to US$ 462.3mn, according to GeoStat’s preliminary figures. In 1H18, trade deficit was up 19.9% to US$ 2.8bn as exports increased by 28.8% y/y to US$ 1.6bn and imports were up 23.0% y/y to US$ 4.4bn. Detailed foreign trade statistics will be available on July 19, 2018.

NBG continues to build reserves
On July 11, 2018, the NBG intervened on the FX market and purchased US$ 10mn to curb GEL’s appreciation. YDT, NBG purchased US$ 60mn and GEL strengthened 5.6% against USD.