Georgia’s external trade up 21% in 2016
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Georgia’s external trade grew by 21 percent in 2016 and totaled $11.98 billion, shows the latest preliminary data from the National Statistics Office of Georgia (Geostat).
Last year the value of Georgia’s exports dropped by four percent to $2.11 billion, while the value of imports increased 28 percent to $9.87 billion, Geostat reported.
Georgia’s trade deficit equalled $7.75 billion in 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 the negative balance of trade in which a country's imports exceed its exports.
Imports excluding Hepatitis C medications were worth $7.25 billion – 0.4 percent less compared to 2015.
Canada, Turkey and Russia – top trading partners
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).
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.