Economy Ministry: domestic exports hit historic high despite pandemic

  • Georgia’s external trade turnover amounted to $9.15 billion in January-October 2020, which is a decrease of 15 per cent compared to the same period of last year. Photo: Nino Alavidze/Agenda.ge.

Agenda.ge, 20 Nov 2020 - 14:35, Tbilisi,Georgia

Despite the pandemic, domestic exports hit historic high in Georgia in the first 10 months of 2020, says the Ministry of Economy.

The share of domestic export of total export amounted to 72.1 per cent in January-October 2020.

As for October 2020, domestic export increased by 21.2 per cent compared to October 2019.

Domestic export is the export of locally produced goods and services, including those of foreign origin that have been substantially changed through local processing.

However, Georgia’s external trade turnover amounted to $9.15 billion in January-October 2020, which is a decrease of 15 per cent compared to the same period of last year, show data from the National Statistics Office of Georgia.

The value of exports decreased 11.1 per cent and reached $2.71 billion, while imports also decreased 16.6 per cent, amounting to $6.44 billion.

In the first 10 months of 2020, the trade deficit (economic measure of the negative balance of trade in which a country's imports exceed its exports) of Georgia amounted to $3.72 billion which is 40.7 per cent of total trade turnover.

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