Georgia exports 87 per cent of domestic export to countries with free trade agreement
In 2019, domestic export amounted to 62.3 per cent of the total export. Photo: Nino Alavidze/Agenda.ge.
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Georgia exported more than 87 per cent of its domestic export (export of locally produced goods and services, including those of foreign origin that have been substantially changed through local processing) in 2019 to countries with which it has a free trade agreement, said Deputy Minister of Economy Genadi Arveladze at the meeting with the media representatives on DCFTA matters.
In 2019, domestic export amounted to $2.35 billion which is 62.3 per cent of the total export, noted Arveladze.
The greatest share of domestic export is exported to countries we have a free agreement with, which means that decisions about the free trade agreements were right,” said Arveladze.
In 2019, the significant shares of domestic export was distributed among countries as follows:
- The Commonwealth of Independent States (CIS) – 36.4%
- The European Union – 31.3%
- China – 8.8%
- Turkey – 8%
The share of domestic export with the EU countries increased from 22.6 to 31.3 after Georgia signed the Association Agreement with EU in 2014 which includes the Deep and Comprehensive Free Trade Area (DCFTA) with the European Union (EU).
A meeting with media representatives was held on February 8-9 and was organised by the Ministry Economy and the European Union within the framework of the project ‘Facility for the Implementation of the EU-Georgia Association Agreement-II’.
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.
Georgia’s external trade turnover amounted to $12.83 billion in 2019, which is an increase of 2.7 per cent compared to last year, show preliminary data from the National Statistics Office of Georgia (Geostat).
Georgia takes 18th place among the world’s top wine exporting countries in 2018 by income generated by sales based on the paper “World’s top 60 wine exporting countries by value in 2018” published by the American Association of Wine Economists (AAWE).
The share of domestic export (export of locally produced goods and services, including those of foreign origin that have been substantially changed through local processing) amounted to 67.4 per cent of total exports in January 2020, reports the government of Georgia.
Georgia’s external trade turnover amounted to $1.86 billion in January-February 2020, which is an increase of 6.1 per cent compared to the same period of last year, show preliminary data from the National Statistics Office of Georgia (Geostat).