Georgian external trade up 33.5% in January-October
The value of exports rose by 34 percent and equalled $4.54 billion in the reported period, while imports also grew by 33.2 percent, amounting to $10.68 billion. Photo: Nino Alavidze/agenda.ge
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Georgian external trade turnover amounted to $15.22 billion in January-October 2022, posting a 33.5 percent increase year-on-year, the national statistics office revealed on Monday.
The value of exports rose by 34 percent and equalled $4.54 billion in the reported period, while imports also grew by 33.2 percent, amounting to $10.68 billion.
Image: Geostat
Trade deficit, a measure of the negative balance of trade in which imports exceed exports, reached $6.13 billion, and the share of trade turnover hit 40.3 percent.
Last year Georgia’s exports totalled $4.24 billion, while imports reached $10 billion. The total turnover was $14.31 billion, while the trade deficit was observed at $5.83 billion.
Georgia has exported locally produced goods worth $4.09 billion between January-September, which is a 37.4 percent increase year-on-year, preliminary data from the national statistics office of Georgia show.
Türkiye ($2 billion), Russia ($1.71 billion) and China ($1.40 billion) were the top trading partners of Georgia in its total external trade turnover in January-September 2022, preliminary data from the national statistics office of Georgia show.
Georgian deputy economy minister Genadi Arveladze on Tuesday told the Eastern Partnership Forum in Prague, Czechia the “correct policy” of the Georgian government to diversify its export markets had reduced the country’s reliance on the Russian market.
Georgia and the United Arab Emirates have launched the first round of talks for establishing a free trade agreement between them as part of a visit of UAE officials in capital Tbilisi, the Georgian ministry of economy announced on Tuesday.
Türkiye ($2.29 billion), Russia ($1.94 billion) and China ($1.52 billion) were the top trading partners of Georgia in its total external trade turnover in January-October 2022, preliminary data from the national statistics office of Georgia show.