Georgian Deputy Economy Minister Irakli Nadareishvili on Wednesday said both 2023 and 2024 had seen “record-high” export growth, with the total volume reaching $6 billion last year and $5 billion within the first nine months of this year. Photo: Ministry of Economy Georgian Deputy Economy Minister Irakli Nadareishvili on Wednesday said both 2023 and 2024 … Read more
Kobakhidze also highlighted the significance of these projects for regional connectivity, facilitating “faster connection” between Georgia, Turkey, Azerbaijan, and Armenia, by saying “given the new reality in our [South Caucasus] region, the implementation of these projects is especially important from an economic perspective”. Photo: GD press office Irakli Kobakhidze, the head of the ruling Georgian … Read more
Marine vessels entering Georgian ports will receive online services through a “single window” starting October 1, the country’s Maritime Transport Agency reported. “The application of the single window principle resulted in the creation of an integrated system. All government and private agencies whose permission is needed for vessels to enter port are participating in the … Read more
In January-August 2024 the external merchandise trade (excluding non-declared trade) of Georgia amounted to USD 14 700.8 million, 3.0 percent higher year-on-year. The exports equaled 4 173.9 million (2.5 percent higher), while the imports stood at USD 10 526.9 million (3.3 percent higher). The negative trade balance was USD 6 353.0 million in January-August 2024 … Read more
Liberalization of trade in services is a top priority for Georgia, we continue to integrate into the global economy. By lowering barriers to trade in services, we give businesses greater market access and attract more investment in key sectors such as ICT, finance, logistics and tourism. This process of liberalization was facilitated by free trade … Read more
Georgian and South Korean officials held the final round of talks for an economic partnership agreement in Tbilisi last week, resulting in agreement on “key areas” including trade in goods and services, intellectual property rights and customs. Photo: Ministry of Economy Georgian and South Korean officials held the final round of talks for an economic … Read more
In the first seven months of 2024, Georgia imported 7.5 times more vegetables than it exported, with $43.817 million in imports compared to $5.766 million in exports, according to the National Statistics Office of Georgia. Among the vegetables Georgia exported, the top earners were tomatoes ($1.061 million), potatoes ($919,500), cabbage ($357,700), onions ($262,000), and lettuce($40,500). … Read more
Galt & Taggart noted in this week’s review that 5.2% of Georgia’s exports go to the European Union and 69.5% are sent to CIS countries. “5.2% of exports went to the European Union (-29.9% y/y), 69.5% to the CIS (+37.2% y/y) and 25.3% to other countries (+33.9% y/y),” they noted. “Further, imports into Georgia rose … Read more
The list of top trading partners of Georgia between the first seven months of this year was topped by Turkey with $1.80 billion, Russia with $1.42 billion and the United States with $1.07 billion, the National Statistics office said on Monday. The list of exports was headed by Kyrgyzstan ($587.5mln), Kazakhstan ($446.5mln) and Russia ($407.2mln), … Read more
The Ministry of Economy stated, that in July 2024, trade turnover rose by 13.6% year-on-year. As for January-July 2024, it increased by 1.6%. “In July 2024, the trade turnover was USD 2,102.5 million, which makes an increase of 13.6% year-on-year, and like exports, represents a record volume. In January-July 2024, trade turnover increased by 1.6% … Read more