Deputy Economic Minister - volume of export, trade turnover expected to hit new record levels
The Deputy Minister said diversification and quality improvement of the export structure represented an “important direction” for the country's economic policy and had a positive impact on the growth of the private sector's competitiveness and creation of new jobs. Photo: Ministry of Economy
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Vakhtang Tsintsadze, the Georgian Deputy Economy Minister, on Thursday said his office expected the volume of export and trade turnover to hit “new record levels” this year, repeating the results of 2022.
Tsintsadze said promoting and increasing export competitiveness was the Government’s “important priority” and noted the state planned to implement a “number of programmes”.
In his comments on evaluating the indicators published by the Georgian National Statistics Office on Wednesday, he said “positive trends” continued in foreign trade and added the January-August data showed exports had increased by 14.3 percent, to $4.1 billion.
He also pointed out the trade turnover had risen by nearly 17 percent, with its volume reaching $14 billion.
The Deputy Minister said diversification and quality improvement of the export structure represented an “important direction” for the country's economic policy and had a positive impact on the growth of the private sector's competitiveness and creation of new jobs.
Positive economic trends in Georgia were discussed on Wednesday in a meeting of the Government’s Economic Council led by Prime Minister Irakli Garibashvili.
About 1.29 million Georgian resident visitors aged 15 and older made 1.6 million trips within the country in the second quarter of 2023, the National Statistics Office of Georgia said on Wednesday.
Georgian Deputy Economy Minister Vakhtan Tsintsadze on Thursday said the Government’s “reasonable” macroeconomic policy was ensuring Georgia's resilience to external shocks and “positive trends” of economic growth would be maintained in the coming months.
The Georgian economy grew 5.5 percent in July year-on-year and 7.2 percent in the first seven months of 2023, the National Statistics Office of Georgia said on Friday. Last month’s growth was mainly driven by estimated real growth in financial and insurance activities, construction, trade, professional, and scientific and technical sectors, the Office said.
Georgian external trade turnover amounted to $17.78 billion in January-October, posting a 16.2 percent increase year-on-year, the Georgian National Statistics Office revealed on Monday.
Turkey with $2.46 billion, Russia with $2.04 billion and the United States with $1.66 billion were the top trading partners of Georgia in its total external trade turnover between January and October, the National Statistics office of Georgia said on Monday.
Georgian external trade turnover amounted to $19.62 billion in January-November, posting a 14.7 percent year-on-year increase, the National Statistics Office said on Wednesday.