External Trade Increases by 18.6% in Jan – Nov 2018

External Merchandise Trade showed a year on year increase of 18.6% from January to November 2018.

The preliminary data, released by the National Statistics Office of Georgia, calculated 11.32 billion usd of external trade (excluding non-declared trade). Export value has increased by 24%, reaching 3.33 billion usd. Import also grew, amounting to 8.29 billion usd, an increase of 16.8%.

This year, Georgia’s trade deficit amounted to 5.25 billion usd, or 46.4% of the country’s total trade turnover.

The trade deficit could potentially mean that the production of goods in Georgia is lacking as production cannot meet demand. Nonetheless, the positive trend in external trade demonstrates that the economy is developing upwards. 

By Amy Jones

Photo source: bestcountry