Jan-May 2018: Georgia’s external trade up 24.5%
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Georgia’s external trade grew by 24.5 percent in January-May 2018 and reached $4.89 billion, says the National Statistics Office of Georgia (Geostat).
In the first five months of 2018 the value of Georgia’s exports increased by 28 percent to $1.28 billion, while the value of imports also increased 23.3 percent to $3.61 billion with respect to January-May 2017, says the Geostat data.
Georgia’s trade deficit equalled $2.32 billion in January-May 2018, which was a 47.5 percent share of the country's total trade turnover.
Trade deficit is an economic measure of the negative balance of trade in which a country's imports exceed its exports.
Detailed data on external merchandise trade of Georgia will be published on 19 June, 2018.
Copper ores and concentrates, ferro-alloys and motor cars were Georgia’s top exported commodities in January-April 2018, shows the preliminary data from the National Statistics Office of Georgia (Geostat).
Turkey, Russia and Azerbaijan are Georgia’s top trade partners this year, shows the preliminary data from the National Statistics Office of Georgia (Geostat). Overall, Georgia’s external trade grew by 23.3 percent this year and reached $2.82 billion in January-March 2018.
Georgia’s external trade with EU up 10.8%, with CIS up 26.5%
Georgia is increasing its role as an important trade partner for the European Union (EU), the Commonwealth of Independent States (CIS) and other countries. In January-February 2018, trade turnover with EU countries amounted to $446.5 million, while with the CIS counties external trade of Georgia reached $620.2 million.
Georgia is strengthening its trade relations with the European Union (EU), the Commonwealth of Independent States (CIS) and other countries. Last month, trade turnover with European Union (EU) countries increased by 6.6 percent year-on-year (y/y) and amounted to $211.5 million.
"We have record growth in exports in May 2018 – a 50.2 percent growth, which is the result of active work for export growth and diversification”, says Georgia’s Economy Minister Dimitry Kumsishvili.
The programme offers Georgian entrepreneurs to register on the new online platform tradewithgeorgia.com to introduce their products and services to potential foreign partners. Currently more than 20 companies have already started using the system.