The National Bank of Georgia published first-quarter 2026 balance of payments statistics showing the current account deficit narrowed by USD 274.9 million from a year earlier to USD 348.1 million, equal to 3.8% of GDP. The improvement was recorded across all four current account components. Goods trade and the income account remained negative contributors, while services and current transfers continued to provide positive support. The goods deficit, still the largest component of the current account, fell 1.8% year over year to USD 1.7 billion, with goods exports up 23.8% and imports up 11.4%, improving the balance by 3.4 percentage points of GDP. The services surplus rose 9.8% to USD 876.1 million as total services exports increased 7.2% to USD 1.8 billion. Travel services exports edged up 0.5% to USD 829.8 million, while computer and information services exports rose 65.7% to USD 441.3 million and transport export revenues reached USD 333.4 million. Current transfers credit increased 7.1% to USD 937.1 million, including an 8.5% rise in private sector net transfers to USD 884.4 million. The net income account remained negative at USD 423.2 million, although net compensation of employees increased 45.8% and the negative net investment income balance decreased 12.0%. Net foreign direct investment, identified as the main source of financing for the deficit, totaled USD 160.9 million, or 1.8% of quarterly GDP.
National Bank of Georgia2026-06-30
National Bank of Georgia reports first quarter current account deficit narrowed to USD 348.1 million
The National Bank of Georgia’s first-quarter 2026 balance of payments data showed the current account deficit narrowed to USD 348.1 million, or 3.8% of GDP, improving by USD 274.9 million from a year earlier. The improvement was broad-based, with a smaller goods deficit, a larger services surplus and higher current transfers. Net foreign direct investment totaled USD 160.9 million and remained the main financing source.