Georgia’s imports, exports surge 22% in January-November
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Georgia’s external trade has grown 22 percent in the first 11 months of the year to reach $10.83 billion, shows latest data from the National Statistics Office of Georgia (Geostat).
Between January and November 2016 the value of Georgia’s exports dropped five percent to $1.92 billion, while the value of imports increased 29 percent to $8.91 billion, said Geostat.
Georgia’s trade deficit equalled $6.99 billion in the first 11 months of 2016, which was a 65 percent share of the country's total trade turnover, showed the latest data by Geostat.
Trade deficit is an economic measure of a negative balance of trade in which a country's imports exceeds its exports.
Imports without the Hepatitis C medicine were worth $6.51 billion, one percent less compared to the same period of 2015.
Georgia’s external trade has grown 22 percent in the first 10 months of the year, reaching $9.95 billion, shows latest data from the National Statistics Office of Georgia (Geostat).
Between January and September 2016 Georgia's external trade turnover with European Union countries reached $2.5 billion.
Georgia is strengthening its trade relations with the European Union (EU), the Commonwealth of Independent States (CIS) and other countries.
Negative trade balance reduces y/y
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.