Macroeconomic Forecast Georgia

Georgia's trade in goods deficit widened by 35.0% year-on-year (y-o-y) in the first four months of 2011, as imports rose on account of stronger domestic demand and elevated global food and energy prices. Imports throughout this period rose 36.6% to US$1.91bn. Nevertheless, exports posted impressive year-to-date growth of 40.0% y-o-y in April, reaching US$656.1mn. Georgia's high reliance on energy imports, particularly as the manufacturing sector continues to expand, will see the trade gap widen to US$2.56bn this year, from US$2.45bn recorded in 2010.

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