Georgia’s external trade up 18% in Jan-Feb 2017

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 Mar 2017 - 12:48, Tbilisi,Georgia

Georgia’s external trade grew by 18 percent this year, reports the National Statistics Office of Georgia (Geostat).

External merchandise trade (excluding non-declared trade) of Georgia amounted to $1.4 billion in January-February 2017, shows the preliminary data from Geostat.

This year the value of Georgia’s exports increased by 27 percent to $356 million, while the value of imports also increased 15 percent to $1.06 billion with respect to January-February 2016.

Georgia’s trade deficit equalled $712 million this year, which was a 50 percent share of the country's total trade turnover.

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