Georgia’s external trade up 17% in January-April

Georgia’s external trade has grown by 17 percent in the first four months of this year compared to the same period of the previous year.

External trade exceeded $3,09 billion, the latest preliminary data from the National Statistics Office of Georgia (Geostat) shows.

This year the value of export increased by 30 percent to $788 million, while the value of imports also increased 13 percent to $2,303 million.

Georgia’s trade deficit equaled $1,515 million, which was 49 percent share of the country’s total trade turnover, Geostat said.

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

Ferro-alloys (73 percent), copper ores and concentrates (39 percent), medicines (26 percent), wine (8 percent) and mineral waters (5 percent) have increased among the exported products this month.

Telephones (52 percent), petroleum and petroleum oils (37 percent), petroleum gases and other gaseous hydrocarbons (32 percent) have increased among the imported products.

The Government of Georgia is working on increasing the country’s export potential under various Free Trade Agreements.

• Georgia, China sign historic Free Trade Agreement

The final Free Trade Agreement between Georgia and China that was finalised last Saturday will open the doors to Georgian wine, mineral waters and agricultural products to a market of 1.4 billion consumers, with zero tariffs, without additional customs fees and without any transition period.