Georgia’s negative trade balance reduces y/y
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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.
Georgia is increasing its role as an important trade partner for the European Union (EU), the Commonwealth of Independent States (CIS) and other countries.
The value of Georgia’s imports and export was 20 percent higher in the first six months of 2016 year-on-year (y/y), official figures show.
The value of Georgia’s imports and exports (External Merchandise Trade) in the first five months of this year exceeded four billion dollars, while Georgia’s external trade turnover with European Union (EU) countries exceeded 1.1 billion dollars, says the National Statistics Office of Georgia (Geostat).
Preliminary data published today showed Georgia’s External Merchandise Trade (excluding non-organised trade) amounted to $3.3 billion in January-April 2016. This was an eight percent increase compared to the same period of 2015.