According to the preliminary data published by the National Statistics Service of Georgia (Geostat) in January-March 2024, Georgia’s foreign trade attained the value of $4.699 billion. It means that it decreased by 6.5% compared to the same period of 2023.
The decrease of exports from Georgia in January – March 2024 attained 9.3% ($1.326 billion), while the downfall of imports reached 5.3% ($3.373 billion). Consequently, the country’s negative trade balance represented 43.6% of its foreign trade turnover and reached $2.047 billion.
$722 million in trade volume made Turkey Georgia’s largest trade partner in the same period. Russia ($619 million), China ($331 million), United States ($329 million), and Azerbaijan ($299 million) were other large trade partners.
$236 million made Kyrgyzstan Georgia’s largest trade partner in exports during the reporting period. Russia ($161 million), Kazakhstan ($147 million), Azerbaijan ($135 million) and Armenia ($127 million) were other Georgia’s large trade partners.
Turkey ($625 million), Russia ($458 million), the United States ($299 million), China ($267 million) and Germany ($223 million) were Georgia’s largest trading partners In terms of imports.
Motor cars ($444 million) led the largest commodity groups in exports in January-March 2024, followed by wine of fresh grapes ($84 million), ferro-alloys ($73 million), spirituous beverages ($57 million), precious metal ores and concentrates ($40 million), natural or artificial mineral and aerated waters, not containing added sugar ($37 million), nitrogenous fertilizers ($34 million), medicaments put up in measured doses ($29 million), waters, mineral and aerated waters, containing added sugar ($24 million), T-shirts knitted ($24 million) and other commodities ($483 million).
Motor cars ($487 million), petroleum and petroleum oils ($290 million), petroleum gases and other gaseous hydrocarbons ($184 million), medicaments put up in measured doses ($153 million) telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) ($79 million), motor vehicles for the transport of goods ($49 million), bars and rods of iron or non-alloy steel ($41 million), automatic data processing machines and units thereof ($38 million), structures and parts of structures of iron or steel ($30 million), motor vehicles for the transport of ten or more persons ($29 million) and other commodities ($1.995 billion) were the major commodity groups of imports.
NH Logistics GEO has been offering IOR importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Georgia and Eurasia, supporting many clients with their import/export shipments
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