Georgia’s negative trade balance reduces y/y

The value of the country’s exports decreased 22% while imports dropped by 25% y/y in January, said Geostat. Photo by N. Alavidze/, 13 Sep 2016 - 12:54, Tbilisi,Georgia

Georgia is balancing its trade ties with the European Union (EU), the Commonwealth of Independent States (CIS) and other countries and reducing its negative trade balance.

Georgia’s trade deficit equalled $4.8 billion in the first eight months of 2016, which made up a 65 percent share in trade turnover, showed preliminary data by the National Statistics Office of Georgia (Geostat).

Trade deficit is an economic measure of a negative balance of trade in which a country's imports exceeds its exports.

Between January-August the value of Georgia’s export decreased by 10 percent to $1.3 billion, while the value of imports grew 23 percent to $6.1 billion, said Geostat.

The figures showed the volume of Georgia’s imports and exports were 16 percent higher in the first eight months of 2016 year-on-year (y/y).

In the reporting period external merchandise trade (excluding non-organised trade) of Georgia amounted to $7.4 billion.