NEWS

The total amount of the exports of Georgia (excluding non-declared exports) reached USD 6 090.6 million in 2023 (9.1 percent higher year-on-year). A 24.4 percent decline was shown by share of the domestic exports in total exports (45.8 percent, USD 2 791.5 million).
The top ten trading partners by domestic exports in the total domestic exports of Georgia had the share of 73.1 percent in 2023. Russia (USD 541.7 million), Türkiye (USD 343.8 million) and China (USD 270.0 million) were the top partners.
The first place in the list of top export items, equaling USD 474.2 million, or 17.0 percent of total exports, was claimed by copper ores and concentrates in 2023. The share of the exports of wine of fresh grapes totaled USD 257.7 million and amounted to 9.2 percent of the total exports. The third place, standing at USD 180.7 million and constituting 6.5 percent of the total exports, was occupied by the exports of ferro-alloys.
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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Open Balkan member states – Serbia, North Macedonia and Albania – signed two protocols that will enable establishing a free labour market in Skopje yesterday.
The State Secretary at the Ministry of Finance Gojko Stanivuković signed a protocol on the implementation of an agreement on conditions for free access to the Western Balkans labour market and a protocol on connecting an electronic identification scheme for citizens of the region on behalf of Serbia.
Full liberalisation of the labour market in the Open Balkan states starting from March 1 was announced by Serbian President Aleksandar Vučić earlier in the day.
According to him, a common labour market would help to create a better business environment for both local and foreign companies and to overcome the problem of workforce shortages.
As Vučić told the press in Skopje, the Growth Plan for the Western Balkans had been discussed with American and European representatives, as well as a common European market and Serbia’s participation in it. He said that green lines for Serbian trucks, [allowing them] to cross EU state borders are most important, because they mean strengthening of the country’s commerce and industrial production.
The prime ministers of Albania, Montenegro and Kosovo – Edi Rama, Milojko Spajić and Albin Kurti respectively – as well as by Bosnian and Herzegovinian Finance Minister Srdjan Amidžić, NEAR Director-General Gert Jan Koopman and U.S. Assistant Secretary of State James O’Brien attended the conference aside from Vučić.
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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The State Agency for the Restoration and Development of Infrastructure of Ukraine reports that work on launching of two new cargo checkpoints on the border between Ukraine and Romania is being carried out.
The issue of building checkpoints on the common border was discussed by representatives of the Restoration Agency and the State Customs Service of Ukraine with the Ambassador Extraordinary and Plenipotentiary of Romania to Ukraine Alexandru Victor Micula. The opening of new checkpoints was one of the topics of discussion.
The statement said that Ukraine and Romania are working on new projects for the Bila Krynytsia-Climăuți and Bila Tserkva-Sighetu Marmației cargo checkpoints.
Two checkpoints on the border with Romania – Solotvyno-Sighetu Marmației in Zakarpattia region and Porubne-Siret in Chernivtsi region are currently operated by the State Agency.
A strategically important role of checkpoints for the development and support of export and import potential during the war was noted in the institution. So, a priority for the Agency in 2024 is increasing capacity, reconstruction of the checkpoints themselves and the infrastructure around them.
According to the reports, 20 of Ukraine’s 42 road, rail, and port checkpoints on the border with Moldova, Poland, Slovakia, and Romania have already been inspected by the team of the USAID Economic Support to Ukraine Project and rapid upgrades have begun at four priority checkpoints.
NH Logistics UA 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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The Ministry of Economy preliminary estimates that the increase of the volume of gross domestic product attained about 5% last year.
First Deputy Prime Minister – Minister of Economy Yulia Svyrydenko reported this data during the discussion “Economy in 2023: Overview of Key Figures” organized by the Center for Economic Strategy in cooperation with the German Economic Team.
The rapid adaptation of Ukrainian business to the current extremely difficult conditions was emphasized by Svyrydenko. Operations of more than 90% of enterprises that had shut down at the beginning of the war have already been resumed.
She says that the field of public administration and defense showed the largest growth. Military salaries and funding for defense programs are primarily concerned by this.
Svyrydenko said that construction also developed at a fairly high pace. Damaged critical infrastructure was actively restored due to investment demand, which was formed due to significant budget funding. Favorable weather conditions had a positive impact on agriculture: 80 million tons of grains and oilseeds were harvested by farmers. The recovery in consumer demand and supply of goods drew the growth in domestic trade, and the growth in demand for investment products drew the manufacturing industry.
Simultaneously, the rhythmic flow of international financial assistance played a key role in ensuring the stability of the Ukrainian economy. It reached $75 billion over the two years of the full-scale war.
The Deputy Prime Minister said that 67% of the funds came from Ukraine’s main partners, the EU and the U.S. Due to this, the country’s priority needs of the budget were covered, social spending was ensured and financial stability was maintained, even the preconditions for macroeconomic stability were created this year. It resulted in the domestic GDP increase by about 5% in 2023, according to preliminary estimates, while in 2022 the economic decline reached 28.8%. This is the so-called recovery growth.
According to the reports, the Ukrainian economy’s growth by 3.2% this year and in 2025 – by 6.5% has been predicted by the World Bank. The WB estimated last year’s growth more pessimistically than the Ministry of Economy’s – at 4.8%.
NH Logistics UA 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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