Weekly Update from the Chief Economist

17 Jan, 2022
  • December trade data cooled a bit, though when compared with previous month’s  outstanding highs, as the annual growth rates remained high with still increasing  trend when compared to 2019
  • For the full year 2021, with the year-on-year growth of 26.9% and 25.1%, both exports and imports exceeded its 2019 levels by 11.7% and 5.9%, respectively
  • An estimated balance of trade in goods, net tourism and net remittances in Q4 almost halved year-on-year from -7.7% to around 4.1% of GDP
  • On the GEL side, as a result of tighter policy stance December M2 monetary aggregate remained moderate or even quite low when adjusted for the same month GDP growth estimate
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