Georgian external trade up 22.1% in January-March 2023
The value of exports rose by 24.7 percent and equalled $1.46 billion, while imports also grew by 21 percent, amounting to $3.32 billion in the first three months of 2023. Photo: Nino Alavidze/Agenda.ge
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Georgian external trade turnover amounted to $4.78 billion in January-March 2023, posting a 22.1 percent increase year-on-year, the Georgian National Statistics Office revealed on Thursday.
The value of exports rose by 24.7 percent and equalled $1.46 billion, while imports also grew by 21 percent, amounting to $3.32 billion in the first three months of 2023.
Image: Geostat
Trade deficit, a measure of the negative balance of trade in which imports exceed exports, reached $1.86 billion, and the share of trade turnover hit 38.9 percent.
Georgian external trade turnover amounted to $1.46 billion in January 2023, posting a 29.1 percent increase year-on-year, the Georgian National Statistics Office revealed on Monday.
The European Union market has been becoming “more stable and predictable” for Georgian exporters, increasing exports of goods to the EU countries to a “record” number, Georgian Deputy Economy Minister Genadi Arveladze said on Friday.
Armenia has become the sixth largest trade partner of Georgia after turnover between the two countries increased by 70 percent between January and November of 2022 to exceeded the $1 billion mark, Georgian Prime Minister Irakli Garibashvili said on Thursday in comments at a meeting of the Intergovernmental Economic Commission in Yerevan.
Russia ($467.1 million), Turkey ($387 million) and China ($246.4 million) were the top trading partners of Georgia in its total external trade turnover between January and February, preliminary data from the National Statistics office of Georgia shows.
Georgian Prime Minister Irakli Garibashvili on Tuesday told members of his Government during their weekly meeting the seven percent economic growth rate, reduction in prices on products and increase in tourism and trade figures represented “positive” dynamics across the country.
Export of Georgian agricultural products to countries of the European Union is on the rise, with the Ministry of Agriculture data showing a 21 percent year-on-year increase in the figure in the first quarter of 2023.
Turkey ($673.7 million), Russia ($666.9 million) and China ($376 million) were the top trading partners of Georgia in its total external trade turnover between January and March, preliminary data from the National Statistics office of Georgia shows.
Georgian national currency, the lari, is among the ten “strongest currencies” in the world, with its exchange rate strengthening by approximately seven percent against the US dollar, with the rate marking a +19.5 percent increase in one year, local media outlet bm.ge reported on Friday.
Georgian external trade turnover amounted to $6.49 billion in January-April 2023, posting a 21.9 percent increase year-on-year, the Georgian National Statistics Office revealed on Monday.
Azerbaijan, Armenia and Russia were the top trading partners of Georgia in its total external trade turnover between January and September, preliminary data from the National Statistics office of Georgia shows.