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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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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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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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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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