Q1 current account deficit shrinks to historic low - NBG
In the first quarter of 2026, Georgia’s current account deficit stood at USD 348.1 million. The deficit-to-GDP ratio improved by 4.1 percentage points (pp) year-on-year to 3.8 per cent, marking a historic low for any first quarter in recent years, the National Bank of Georgia (NBG) has announced.
According to the NBG, against the backdrop of a sustained trend towards less import-intensive economic growth, the trade balance in goods made a substantial contribution to the improvement in the current account-to-GDP ratio.
“Goods exports rose by 23.8 per cent year-on-year, driven primarily by an increase in domestic exports. Meanwhile, goods imports grew by 11.4 per cent. Consequently, on the back of an improved balance of trade in goods, the trade deficit-to-GDP ratio narrowed by 3.4 pp year-on-year to 18.5 per cent,” the National Bank noted.
At the same time, as NBG reported, the current account balance was significantly bolstered by exports of computer and information services (ICT), which surged by 65.7 per cent year-on-year to reach a historic high of 4.8 per cent of GDP. A stronger primary and secondary income account also played a prominent role in improving the current account-to-GDP ratio.
“On the other hand, amidst the ongoing conflict in the Middle East, the annual growth rate of tourism revenues slowed down, posting a modest 0.5 per cent increase in the first quarter. However, this deceleration in tourism growth was heavily offset by robust expansion in both ICT service exports and goods exports.
Foreign Direct Investment (FDI) remains one of the primary sources of current account financing, with the volume of inflows standing at 3 per cent of GDP as of the first quarter of 2026,” the National Bank of Georgia said in a statement.
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Deputy Minister of Economy meets IMO Secretary-General Arsenio Dominguez at Maritime Summit
03.07.2026.20:07
The Deputy Minister of Economy and Sustainable Development, Tamar Ioseliani, has held a meeting with the Secretary-General of the UN International Maritime Organisation (IMO), Arsenio Dominguez, the Ministry of Economy has announced.
According to the Ministry, the meeting took place on the sidelines of the Turkish Maritime Summit.
“The discussions focused on ongoing reforms in the maritime sector, the implementation of international standards, and opportunities to strengthen future partnerships. Particular attention was paid to maritime safety, support for seafarers, digital transformation, and bolstering Georgia’s role as a vital maritime hub in the Black Sea region.
Discussions focused heavily on developing Georgia’s transport and logistics infrastructure, with a particular emphasis on the port sector, highlighting its strategic role as a Middle Corridor hub. According to the Deputy Minister, Georgia is leveraging its geographical advantage to transform into a modern, reliable, and competitive transport and logistics hub. By 2032, the country plans to invest approximately USD 7 billion in modernising its transport network, encompassing the integrated development of maritime, rail, road, and digital infrastructure.
In this context, the Deputy Minister highlighted the Anaklia Deep Sea Port project. Tamar Ioseliani noted that marine infrastructure works, carried out by the internationally renowned Belgian company Jan De Nul, are already underway. By 2029, upon the completion of the first phase, the port’s throughput capacity will reach at least 600,000 TEU, enabling the country to accommodate large Panamax-class vessels.
It was noted that strengthening the Middle Corridor directly contributes to the resilient and seamless functioning of global supply chains. The IMO Secretary-General highly commended Georgia’s recent achievements in the maritime sector. Ivane Abashidze, Director of the Maritime Transport Agency, also participated in the meeting,” the Ministry of Economy’s statement read.