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A growth by 6.6% of Georgian external trade was registered in January-November

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As the National Statistics Office said on Friday, Georgia’s external trade turnover attained $21.1 billion between January-November (6.6 percent increase compared to the same period last year).
The raise of imports attained (6.1 percent, $15.1 billion in total), while the growth of exports reached 7.9 percent ($6 billion).
The share of the trade deficit (a measure of the negative balance of trade in which a country’s imports exceed its exports) in trade turnover was observed at 43 percent (totally $9.08 billion).
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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The increase of Serbia’s ICT exports was 20% y/y in Jan-Oct

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As the Office for Information Technologies and eGovernment said on Wednesday, the exports of Serbia’s information and communication technologies (ICT) sector increased by an annual 20% in the first ten months of 2024.
A trade surplus of 2.62 billion euro In the January-October period made the value of Serbia’s ICT sector exports reach 3.342 billion euro ($3.5 billion).
Only in October, the value of Serbia’s ICT sector exports attained 375 million euro (30% growth year-on-year).
Serbia’s revenue from ICT exports increased tenfold in the decade 2013-2023.
NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.

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Statistics report the increase of Ukraine’s deficit of foreign trade in goods by 2.3% in Jan-Oct 2024

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According to the State Statistics Service of Ukraine, Ukraine’s deficit of foreign trade in goods increased by 2.3% (from $22.194 billion in January-October 2023 to $22.704 billion in the same period of 2024).
The growth of exports of goods from Ukraine attained 15.7% ($34.727 billion in January-October 2024 year-on-year) and the raise of mports reached 10% ($57.432 billion year-on-year).
A 7% growth was demonstrated by Ukraine’s seasonally adjusted exports ($3.52 billion), while imports the increase of imports was 1.9% ($6.02 billion in October 2024 month-on-month).
The seasonally adjusted trade deficit stood decreased from $2.62 billion recorded in September to $2.5 billion in October.
The export-import coverage ratio equaled to 0.6 in January-October 2024 (0.57 in January-October 2023).
Ukraine conducted foreign trade operations with partners from 228 countries.
NH Logistics UKR has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.

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An increase of Georgia-EU trade turnover by $362 million was recorded in January-October 2024

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Compared to the previous year, Georgia-EU trade turnover increased by 9.8% (USD 362 million) in January-October 2024 and exceeded USD 4 billion. It makes 2024 a record year in terms of trade with the EU, taking into account that the turnover for 2023 amounted to USD 4.5 billion. 88% of the trade turnover with the EU accounted for imports in the first ten months of this year. The volume of exports was only USD 456 million in January-October, while imports reached USD 3.6 billion.
The value of imports of automobiles amounted to USD 628.5 million this year, so cars are the most valuable imported item from the EU to Georgia. The second place among the items imported from the EU was taken by oil and oil products with USD 360.4 million spent on them. Packaged medicines took the third place with the export equaled to USD 245 million in January-October. Trucks worth USD 87.5 million and mobile phones worth USD 68.3 million were also found among the top five products imported from the EU.
The situation observed in terms of exports in relation to the EU is different. Locally produced or obtained products are mostly exported by the EU, though exports is only 12% of trade turnover, in terms of goods. They sell Georgian hazelnuts in the EU at the highest value, reaching USD 45.3 million in January-October of this year. Copper ores and precious metals are in second and third place (USD 42.5 million and USD 39.8 million, respectively). Oil and oil products (USD 30.5 million) and Georgian wine (USD 26.8 million) are also in the top five exported items this year.
Georgia’s foreign trade turnover reached a historical maximum, or record, for this period of the year in January-October 2024 (USD 19 billion, almost USD 1 billion, or 5.5%, more than last year. In case if the trend of import-export increase continues until the end of the year, the current year is also likely to be a record in this regar. The total turnover attained USD 21.7 billion last year.
Imports and exports data still form a sharp skew of foreign trade towards imports. The nature of the Georgian economy can explain this. In January-October 2024, exports almost attained USD 5.5 billion, while imports reached USD 13.5 million. There was an increase of exports by 7.4% annually and a growth of imports by 4.8% accordingly. Light vehicles have a significant influence on the growth of both imports and exports.
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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An increase of Georgia-EU trade turnover by $362 million was recorded in January-October 2024

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Compared to the previous year, Georgia-EU trade turnover increased by 9.8% (USD 362 million) in January-October 2024 and exceeded USD 4 billion. It makes 2024 a record year in terms of trade with the EU, taking into account that the turnover for 2023 amounted to USD 4.5 billion. 88% of the trade turnover with the EU accounted for imports in the first ten months of this year. The volume of exports was only USD 456 million in January-October, while imports reached USD 3.6 billion.
The value of imports of automobiles amounted to USD 628.5 million this year, so cars are the most valuable imported item from the EU to Georgia. The second place among the items imported from the EU was taken by oil and oil products with USD 360.4 million spent on them. Packaged medicines took the third place with the export equaled to USD 245 million in January-October. Trucks worth USD 87.5 million and mobile phones worth USD 68.3 million were also found among the top five products imported from the EU.
The situation observed in terms of exports in relation to the EU is different. Locally produced or obtained products are mostly exported by the EU, though exports is only 12% of trade turnover, in terms of goods. They sell Georgian hazelnuts in the EU at the highest value, reaching USD 45.3 million in January-October of this year. Copper ores and precious metals are in second and third place (USD 42.5 million and USD 39.8 million, respectively). Oil and oil products (USD 30.5 million) and Georgian wine (USD 26.8 million) are also in the top five exported items this year.
Georgia’s foreign trade turnover reached a historical maximum, or record, for this period of the year in January-October 2024 (USD 19 billion, almost USD 1 billion, or 5.5%, more than last year. In case if the trend of import-export increase continues until the end of the year, the current year is also likely to be a record in this regar. The total turnover attained USD 21.7 billion last year.
Imports and exports data still form a sharp skew of foreign trade towards imports. The nature of the Georgian economy can explain this. In January-October 2024, exports almost attained USD 5.5 billion, while imports reached USD 13.5 million. There was an increase of exports by 7.4% annually and a growth of imports by 4.8% accordingly. Light vehicles have a significant influence on the growth of both imports and exports.
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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ILSTC Trade Corridor Alliance accepts Serbian Chamber

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PKS following the Alliance’s official formation made the announcement that the Serbian Chamber of Commerce (PKS) has become a co-founder and member of the newly established Alliance of Chambers of Commerce for the International Land-Sea Trade Corridor (ILSTC), aimed at connecting Western China with Southeast Asia and Europe. Over 20 national chambers of commerce and industry, from the Philippines to Indonesia are brought together by the ILSTC Chamber Alliance.

Marko Čadež, President of PKS, called for uniting not only businesspeople to trade more efficiently along the corridor but also for sparking collective innovation and creating a shared platform for startups from ILSTC member countries, especially those focused on new technologies in logistics, during the inauguration ceremony in Beijing.
The importance of international cooperation, not just in trade but in fostering business growth, was also emphasized and last month’s founding meeting of the Alliance in China, where member chambers agreed to work jointly on improving trade, logistics, and transport across the corridor was recalled by him.
NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.

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Ministry reports 5 mln tonnes more of grain exported by Ukraine in 2024-2025 marketing year than a year before

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According to Ukrainian media with reference to the Agrarian Policy and Food Ministry’s press service and data from the State Customs Service, 17.764 million tonnes of grain and legumes have been exported by Ukraine since the beginning of the 2024-2025 marketing year as of November 27, of which 3.365 million tonnes were shipped in November.
As the media reports said, 2.693 million tonnes of grain were exported by Ukraine in 2023-2024 marketing year, including 3.453 million tonnes in last November.
According to the reports, 8.73 million tonnes of wheat (989,000 tonnes in November), 1.841 million tonnes of barley (142,000 tonnes), 10,800 tonnes of rye (200 tonnes) and 6.886 million tonnes of corn (2.205 million tonnes) were exported by Ukraine in the 2024-2025 marketing year.
They estimated the total Ukrainian flour exports at 30,500 tonnes (5,000 tonnes in November), including wheat flour at 27,800 tonnes (4,500 tonnes) as of November 27.
NH Logistics UKR has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.

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NBU reports $2.8 bln deficit of Ukraine’s consolidated balance of payment in September

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Data from the National Bank of Ukraine (NBU) cited by Ukrainian media report that the deficit of Ukraine’s consolidated balance of payments equaled to $2.8 billion in September 2024 (about 1.6% of the projected 2024 GDP), compared to a surplus of $0.3 billion in September 2023 and $4.9 billion in August 2024.
According to the NBU, the deficit of the current account of the balance of payments excluding grants and reinvested income reached $2.4 billion at the end of September 2024, compared to $2.3 billion a month earlier and $1.8 billion in September 2023.
The bank reported that much smaller grants from international partners and the growing primary income deficit caused the increased current account deficit.
Overall, excluding reinvested income and grants from partners, the current account deficit rose by $4.9 billion year-on-year to $11 billion in January-September 2024, or to $15.2 billion from $12.7 billion last year.
The NBU reports that exports were growing faster than imports, so the negative balance of trade in goods and services has decreased since September 2023 to $0.5 billion compared to $0.7 billion, respectively. A particular increase was demonstrated by exports of goods. It attained 16.2% in September 2024 compared to September 2023 and 5.6% compared to August 2024 and reached $3 billion, while the increase of imports reached $5.7 billion (3% growth compared to September 2023 year and only 0.4% increase compared to August 2024).
NH Logistics UKR has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.

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EU is asked by Ukraine for extension of preferences for trade in farm products beyond June 2025

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As agrarian Policy and Food Minister Vitaly Koval said at a meeting of the Council on Agriculture and Fisheries (AGRIFISH) in Brussels, Ukraine had to reduce the burden on the borders of neighboring countries and return to its historical logistics routes in 2024, again exporting 88% of all agricultural goods through Ukrainian ports.
According to him, it is important to secure an extension of preferences for trade in agricultural products beyond June 2025 for the period until the end of the crisis and transitional period after it.
Koval highlighted that Ukraine is a large market for European goods used in agricultural production. For example, imports of seeds, plant protection products, equipment and fertilizers account for 61%, or $10 billion, in Ukraine’s entire agricultural sector, while the imports of finished European products to the Ukrainian market reached $6.95 billion.
Koval said that Ukrainian and European farmers do not have the same competitive edge. He also added that Ukraine is a partner for Europeans rather than a rival.

NH Logistics UKR has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.

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Deputy Economy Minister reports strengthening of Georgia’s regional logistics hub role

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Georgia’s strategic importance as a logistics gateway between Europe and Asia was emphasised by Georgian Deputy Economy Minister Genadi Arveladze on Friday during a panel discussion at the 23rd ministerial session of the Central Asian Regional Economic Cooperation Programme in Astana, Kazakhstan.
The potential of the Middle Corridor as a reliable transportation route linking the two continents was also highlighted by Arveladze. According to him, the private sector’s interest in logistics projects was increasing, against the backdrop of the growing popularity of the Corridor, and Georgia’s integration into regional and international transport networks would be “greatly enhanced” by the trend.
Ongoing strategic initiatives aimed at modernising the country’s logistics framework, including the development of the Baku-Tbilisi-Kars railway, the East-West highway, and the Anaklia deep sea port project, were also outlined. According to Arveladze, the Government showed its commitment to positioning Georgia as a key player in regional logistics by the adoption of a comprehensive logistics and demonstration of transport strategy.
The importance of enhancing cooperation among CAREC countries to facilitate smooth cross-border transportation along the Middle Corridor was stressed by the Deputy Minister. According to him, digital technologies should be used to streamline transport operations.
It’s possible to expand Georgia’s transport routes, facilitate the trade and foster sustainable economic development within the CAREC region and beyond due to coordinated policies and actions among Corridor countries. Aveladze has also noticed that the Government’s priority was to enhance port infrastructure on the Black Sea and to increase ferry traffic to neighbouring ports. He attributed an uplift in cargo turnover (a 21 percent increase in the first nine months of 2024 compared to the same period last year) to more frequent ferry connections with Romania and Bulgaria.
High-ranking officials from member countries, along with leaders from international organisations such as the Asian Development Bank, the International Monetary Fund, the World Bank, and the World Trade Organisation met during the CAREC ministerial session.
Identifying strategic goals and measures for addressing climate change in the region were in the focuse of the main theme of the session.
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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