Georgian external trade up 20.1% in January-June 2023
The value of exports rose by 19.2 percent and equalled $3.05 billion, while imports also grew by 20.4 percent, amounting to $7.21 billion in the first six months of 2023. Photo: Nino Alavidze/Agenda.ge
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Georgian external trade turnover amounted to $10.26 billion in January-June 2023, posting a 20.1 percent increase year-on-year, the Georgian National Statistics Office revealed on Thursday.
The value of exports rose by 19.2 percent and equalled $3.05 billion, while imports also grew by 20.4 percent, amounting to $7.21 billion in the first six months of 2023.
Image: Geostat
Trade deficit, a measure of the negative balance of trade in which imports exceed exports, reached $4.16 billion, and the share of trade turnover hit 40.6 percent.
Deputy Economy Minister Vakhtang Tsintsadze said the country’s foreign trade turnover had reached a “record level”, with exports also marking a “record-high” growth in the first half of the year.
Tsintsadze said export promotion and diversification, as well as development of local production, was the “main priority” for the Government.
He said a “number of state programmes” were being implemented to increase competitiveness of local entrepreneurs with “significant tangible results” that were “confirmed by statistical indicators".
The implementation of the Free Trade Agreement between Georgia and China over the past five years was discussed on Friday by the Georgian Deputy Economy Minister Genadi Arveladze and Han Yong, the Department Head of WTO Affairs of the Chinese Commerce Ministry, in a joint commission meeting held in the Georgian capital Tbilisi.
Georgian Deputy Economy Minister Genadi Arveladze on Friday said Georgia’s foreign trade turnover in 2022 had reached the “record level”, with the turnover increased by 34 percent and amounting to $19.18 billion, including the increase of export by 32 percent constituting $5.59 billion.
Turkey ($925.3 million), Russia ($848.5 million) and Azerbaijan ($500.9 million) were the top trading partners of Georgia in its total external trade turnover between January and April, preliminary data from the National Statistics office of Georgia shows.
Georgian Deputy Economy Minister Vakhtang Tsintsadze on Monday said exports from the country had reached a “record high” figure in the first four months of 2023.
Ongoing and future economic projects, wheat import, economic growth indicators and development of the digital economy in the country were discussed in a meeting of the Government’s Economic Council led by Prime Minister Irakli Garibashvili, the Government Administration said on Thursday.
Prospects of investments in Georgia and solving existing challenges were discussed on Friday at a meeting of the Investors Council, chaired by the Georgian Prime Minister Irakli Garibashvili.
Georgian recipients received ₾930.6 million ($355.5 mln) in remittances from abroad in June, marking a 16.8% decrease year-on-year, the latest data from the National Bank of Georgia shows.
Georgian external trade turnover amounted to $12.09 billion in January-July 2023, posting a 18 percent increase year-on-year, the Georgian National Statistics Office revealed on Monday.
Turkey ($1.68 billion), Russia ($1.50 billion) and the United States ($1.02 billion) were the top trading partners of Georgia in its total external trade turnover in 2022, preliminary data from the National Statistics office of Georgia show.