Geostat releases Jan-Feb external merchandise trade figures

The value of Georgia’s External Merchandise Trade (export and imports) is on a downward trend, claims Geostat.

In the first two months of the year, Georgia’s External Merchandise Trade (excluding non-organised trade) amounted to $1.4 billion USD. This was a nine percent drop when compared to the same figures of 2013.

Geostat preliminary data revealed the value of exports decreased by 26 percent year-on-year, and reached $324 million USD, while imports dropped two percent and amounted to $1.1 billion USD.

The trade deficit equalled $786 million USD and its share in the country’s total trade turnover constituted 55 percent.

Geostat noted more detailed data on External Merchandise Trade of Georgia will be published on March 23, 2015.

Meanwhile, the number of Foreign Direct Investments (FDI) in Georgia is at a five-year high.

Preliminary Geostat figures showed the number of FDIs in Georgia at the end of 2014 amounted to $1.27 billion USD – a 39 percent increase on the same data of 2013.

Geostat figures revealed this was a five-year high; where in 2013 FDI’s amounted to $942 million, in 2012 FDIs reached $912 million, in 2011 FDIs reached 1.1 billion and in 2010 FDIs amounted to $814 million.

Moreover, 21 percent ($266 million) of the total $1.27 billion of FDIs were reinvestments, stated Geostat.