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.
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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.
Georgia's domestic exports (exports without re-exports) amounted to $526.3 million in January-February 2020, which is 4.5 per cent more compared to the same period of last year, show the preliminary data from the National Statistics Office of Georgia (Geostat).
Turkey, Azerbaijan and Russia were Georgia's top trading partners in January-February 2020, show the preliminary data from the National Statistics Office of Georgia (Geostat).
Georgia exported 94 million bottles of wine to 53 countries in 2019, which is nine percent more compared to 2018 and the highest export volume in the history of independent Georgia, says the Georgian National Wine Agency.
Export from Georgia reached a historic high in 2019, announced the Georgian government earlier today, stating that exports to the EU also reached a record high, with the value of exports increased 12.4 per cent and reaching $3.77 billion, while imports decreased 0.8 per cent, amounting to $9.06 billion.
Georgian amber wines have become the 8th category of wine to be added to the International Organisation for Vine and Wine (OIV) list. Georgian National Wine Agency announced today that the OIV had added Georgian white wine with maceration to the list of its special wines.