Georgia’s external trade at $2.80 billion in Jan-March 2019
Georgian exports increased by 12.8% to $826 million, while the value of imports decreased by 4.7% to $1.98 billion. Photo: Nino Alavidze/Agenda.ge.
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Georgia’s external trade amounted to $2.80 billion in January-March 2019, says the National Statistics Office of Georgia (Geostat).
This was 0.1% lower year-on-year.
In the reporting period the value of Georgian exports increased by 12.8% to $826 million, while the value of imports decreased by 4.7% to $1.98 billion with respect to 2018, said Geostat.
Last year Georgia’s trade deficit came out to $1.15 billion, which was a 41.1% 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.
Trade turnover between Georgia and EU increased by 17.7% in comparison to 2017 and reached $3.35 billion in 2018, much in part thanks to the Deep and Comprehensive Free Trade Area (DCFTA) agreement with the EU.
Georgia’s external trade with EU up 6.3%, with CIS up 2.8%
Georgia is increasing its role as an important trade partner the Commonwealth of Independent States (CIS), while trade turnover with the European Union decreased this year.
In January 2019 the external merchandise trade (excluding non-declared trade) of Georgia amounted to USD 826.8 million, which is the 1.2 per cent higher compared to the same month of the last year, the Georgian National Statistics Office says.
Georgia’s external trade grew by 18.6% this year and reached $11.32 billion in January-November 2018, says the National Statistics Office of Georgia (Geostat).
The production of crops, vegetables and fruits increased in 2018 in Georgia, show the preliminary data of 2018 published by the National Statistics Office of Georgia (Geostat).