Georgian exports reach monthly record-high $504 bln in May

Georgia exported a record $504 million of goods in May, marking a 48 percent increase compared to the same month of the previous year, preliminary data from the National Statistics Office of Georgia show. 

Georgian exports this year have been distributed as follows:

• January - $331 million
• February - $429 million
• March - $411 million
• April - $416 million
• May - $504 million

The update has not included detailed data on the types of goods exported or re-exported last month, with figures on external merchandise trade to be published on June 20.

In other figures, imports grew by 45 percent year-on-year and reached $1.1 billion in May.

Overall, Georgian external trade turnover amounted to $6.91 billion between January-May 2022, posting a 37 percent increase year-on-year, Geostat said.

The value of exports rose by 36.2 percent and equalled $2.09 billion in the reported period, while imports also grew by 37.3 percent, amounting to $4.82 billion. 

Trade deficit, a measure of the negative balance of trade in which imports exceed exports, reached $2.72 billion, and the share of trade turnover hit 39.6 percent.