2018 External Merchandise Trade of Georgia up by 24.5%

The preliminary data from the National Statistics Office of Georgia (Geostat) reads that in January-May 2018, the external merchandise trade of Georgia amounted to $4.894.82 million, 24.5% higher than the data of the same period last year.

According to the data, the value of export increased by 28%, reaching $1.284.7 million, while import grew by 23.3% and amounted to $3.610.1 million.

The trade deficit equaled $ 2.325.4 million and its share in trade turnover constituted 47.5%.

As for January-April statistics, the external merchandise trade of Georgia amounted to $3.786.2 million, 22.2% higher than the data of the same period last year.

According to the data, the value of export in January-April increased by 22%, reaching $961.4 million, while import grew by 22.3% and amounted to $2.824.8 million. The trade deficit equaled $1.863.5 million and its share in trade turnover constituted 49.2%.

Georgia’s Minister of Economy, Dimitry Kumsishvili stated that only in May 2018, the country saw record growth of export by 50.2%. According to him, this was caused by several factors, including free-trade agreements with some countries, business supporting activities by the government and promotion of local entrepreneurs.

"The Government of Georgia is actively working on further growth and diversification of export. New contracts in the field of free trade promotes the expansion of the market for the Georgian products, diversification of export products and creates additional potential for export,” Dimitri Kumsishvili said.

By Thea Morrison