January-September: Georgia’s external trade grows 24%

Georgia is strengthening its trade relations with the European Union (EU), the Commonwealth of Independent States (CIS) and other countries.

In the first nine months of 2016 Georgia's external merchandise trade (excluding non-declared trade) was $9.10 billion - 24 percent growth year-on-year (y/y), latest figures show.

Between January and September the value of Georgia’s export dropped eight percent to $1.51 billion, while the value of imports increased 34 percent to $7.59 billion.

Georgia’s trade deficit equalled $6.08 billion in the first nine months of 2016, which was a 67 percent share of total 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.

Geostat said imports excluding the Hepatitis C treatment equalled $5.19 billion, three percent less compared to the same period of the previous year.