Georgian Weekly Digest 20 March 2017

Economy

In February 2017, adjusted* trade deficit expanded by 14.3% y/y to US$ 411.8mn on the back 12.7% y/y increase in exports to US$ 178.9mn and a 13.8% y/y increase in adjusted imports to US$ 590.7mn. Unadjusted imports decreased 18.8% y/y, while unadjusted trade deficit decreased 27.6%.

*Excluding US$ 208.2mn import of Hepatitis C medicine in February 2016 in the frames of state programme in collaboration with Gilead Sciences.

In February 2017 money transfers were up by 17.9% y/y to US$ 94.1mn. The increase was mainly driven by transfers from Russia (US$ 30.3mn, up 21.1% y/y), USA (US$ 10.2mn, up 15.6% y/y), Greece (US$ 10.1mn, up 8.6% y/y), Italy (US$ 9.9mn, up 2.0% y/y), Israel (US$ 7.6mn, up 91.1% y/y) and Turkey (US$ 7.6mn, up 54.0% y/y).

Property registrations were up 8.2% y/y while company registrations were up 5.8% y/y in February 2017. Registration of commercial and residential real estate properties reached 57.6 thousand units in February 2017 of which 15.0 thousand were first-time property registrations (up 31.4% y/y) while 42.6 thousand were secondary property registrations (up 1.9% y/y). New company registrations reached 4.1 thousand in February 2017.

 

Debt and Money Market

Eurobonds: during the week Georgia’s Sovereign Eurobond (GEORG 4/21) price was unchanged w/w at 110.7 (YTM 4.0%). BGEO Group JSC (BGEOLN 7/23) price was unchanged w/w at 101.3 (YTM 5.8%), Georgian Oil & Gas Corporation (GEOROG 4/21) price was up 0.1% w/w to 105.3 (YTM 5.3%), while Georgian Railway (GRAIL 7/22) price was up 0.3% w/w at 110.4 (YTM 5.5%).

 

Equity Market

On Friday’s trading session, TBC Bank Group PLC (TBCG LN) shares closed at GBP 14.97, up by 6.3% w/w. During the week 331.7 thousand shares traded on the London Stock Exchange.

During the week 626.5 thousand of BGEO Group PLC (BGEO LN) shares traded, closing at GBP 30.66 (up by 2.6% w/w) on Friday’s trading session.

Georgia Healthcare Group PLC (GHG LN) shares were down by 2.1% w/w closing at GBP 3.52 on Friday. During the week 76.3 thousand GHG shares changed hands on the LSE.

On Georgian Stock Exchange 83.4 thousand shares of Liberty Bank (BANK GG) were traded at GEL 0.0160 per share (unchanged from previous trade).

 

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