Georgian external trade up 14.7 in January-November – Statistics Office

Georgian external trade turnover amounted to $19.62 billion in January-November. Photo: Geostat

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.

The value of exports rose by 11.1 percent and equalled $5.58 billion, while imports also grew by 16.3 percent, amounting to $14.04 billion in the reporting period.

Trade deficit, a measure of the negative balance of trade in which imports exceed exports, reached $8.45 billion, and the share of trade turnover hit 43.1 percent.

Vakhtang Tsintsadze, the Deputy Economy Minister, said the volume of exports had exceeded the annual indicators of 2022.

Positive trends observed in external trade are results of state programmes and policy steps taken by the state over the recent years to [increase] the competitiveness of small and medium-sized businesses and diversify foreign trade markets”, he said.

Tsintsadze added data of the first 11 months of 2023 had registered “record-high” figures in external trade.

Image: Geostat

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