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Country Report Georgia March 2011
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HTMLEconomic structure: Quarterly indicators
| 2009 | 2010 | |||||||
| 1 Qtr | 2 Qtr | 3 Qtr | 4 Qtr | 1 Qtr | 2 Qtr | 3 Qtr | 4 Qtr | |
| Central government finance (Lari m) | ||||||||
| Revenue & grants | 1,191.9 | 1,027.7 | 1,213.0 | 1,484.4 | 1,216.2 | 1,301.1 | 1,389.2 | 1,515.0 |
| Expenditure & net lending | 1,119.0 | 1,308.4 | 1,347.1 | 1,592.7 | 1,221.5 | 1,444.5 | 1,299.5 | 1,501.0 |
| Balance | 72.9 | -280.7 | -134.1 | -108.3 | -5.3 | -143.4 | 89.7 | 14.0 |
| Output | ||||||||
| GDP at constant 1996 prices (% change, year on year) | -4.8 | -9.0 | -1.5 | 0.0 | 3.9 | 8.7 | 6.7 | n/a |
| Employment, wages & prices | ||||||||
| Employed ('000)a | 1,651.7 | 1,671.1 | 1,680.8 | 1,690.5 | n/a | n/a | n/a | n/a |
| Average nominal wages (Lari per month) | 531.3 | 560.1 | 568.7 | 629.8 | 564.7 | 598.9 | 609.5 | n/a |
| Consumer prices (2005=100; av) | 132.9 | 133.6 | 130.9 | 136.4 | 139.1 | 139.5 | 142.3 | 150.7 |
| Consumer prices (% change, year on year) | 2.7 | 2.2 | -0.9 | 3.0 | 4.7 | 4.4 | 8.8 | 10.5 |
| Producer prices (2005=100; av) | 128.6 | 126.6 | 129.3 | 131.8 | 135.2 | 141.9 | 145.0 | 149.6 |
| Producer prices (% change, year on year) | -3.7 | -9.4 | -7.2 | -1.5 | 5.1 | 12.1 | 12.2 | 13.5 |
| Financial indicators | ||||||||
| Exchange rate Lari:US$ (av) | 1.67 | 1.66 | 1.68 | 1.68 | 1.72 | 1.80 | 1.84 | 1.77 |
| Exchange rate Lari:US$ (end-period) | 1.67 | 1.66 | 1.68 | 1.69 | 1.75 | 1.84 | 1.81 | 1.77 |
| Deposit rate (av; %) | 10.3 | 11.1 | 10.5 | 9.5 | 9.6 | 9.2 | 8.6 | 9.4 |
| Deposit rate (foreign currency; av; %) | 9.4 | 9.9 | 10.3 | 8.8 | 7.8 | 6.7 | 6.3 | 6.2 |
| Lending rate (av; %) | 26.2 | 26.5 | 25.6 | 23.8 | 25.4 | 23.6 | 24.6 | 23.2 |
| Lending rate (foreign currency; av; %) | 22.5 | 23.3 | 24.7 | 23.8 | 22.5 | 21.4 | 20.8 | 18.9 |
| Treasury-bill rate (av; %) | n/a | n/a | 6.0 | 6.0 | 5.7 | 8.3 | 12.7 | 11.6 |
| Reserve money (end-period; Lari m) | 1,450.4 | 1,660.4 | 1,823.1 | 1,875.0 | 1,780.0 | 1,814.7 | 1,954.7 | 2,081.1 |
| M1 (end-period; Lari bn) | 1.5 | 1.7 | 1.8 | 1.9 | 1.8 | 1.8 | 2.0 | 2.1 |
| M1 (% change, year on year) | -16.2 | -12.7 | -0.8 | 14.2 | 22.7 | 9.3 | 7.2 | 11.0 |
| M2 (end-period; Lari bn) | 1.7 | 1.7 | 1.9 | 2.1 | 2.2 | 2.4 | 2.5 | 2.7 |
| M2 (% change, year on year) | -27.5 | -29.1 | -15.2 | 14.9 | 34.7 | 36.7 | 27.7 | 28.0 |
| Foreign trade (US$ m) | ||||||||
| Exports fob | 219 | 296 | 307 | 313 | 340 | 379 | 377 | 486 |
| Imports cif | -964 | -1,020 | -1,130 | -1,263 | -1,020 | -1,212 | -1,282 | -1,521 |
| Trade balance | -745 | -724 | -823 | -950 | -680 | -833 | -905 | -1,036 |
| Balance of payments (US$ m) | ||||||||
| Merchandise trade balance fob-fob | -604.6 | -512.4 | -572.6 | -709.5 | -509.8 | -639.6 | -657.6 | n/a |
| Services balance | 38.3 | 78.3 | 132.4 | 90.7 | 88.5 | 95.0 | 200.2 | n/a |
| Income balance | -15.6 | -37.3 | -9.7 | -55.1 | -38.3 | -9.0 | -61.0 | n/a |
| Net transfer payments | 168.9 | 182.3 | 235.7 | 271.4 | 238.5 | 220.2 | 239.4 | n/a |
| Current-account balance | -413.0 | -289.1 | -214.2 | -402.5 | -221.1 | -333.4 | -279.0 | n/a |
| Reserves excl gold (end-period) | 1,493 | 1,518 | 2,011 | 2,110 | 2,199 | 1,865 | 2,111 | 2,264 |
| a Economist Intelligence Unit calculations derived from data from the National Statistics Office. | ||||||||
| Sources: National Statistics Office; IMF, International Financial Statistics, National Bank of Georgia; Ministry of Finance. | ||||||||
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