Deficit of foreign trade turnover up in Georgia

Business Materials 1 April 2020 15:57 (UTC +04:00)
Deficit of foreign trade turnover up in Georgia

BAKU, Azerbaijan, Apr.1

By Tamilla Mammadova – Trend:

The deficit of foreign trade turnover of Georgia in February 2020 increased by 14.8 percent compared to the same period last year and amounted to $440.1 million, Trend reports citing the National Bank of Georgia.

Exports of goods for this period decreased by 0.5 percent year-on-year to $263.6 million, while imports grew by 8.6 percent to $703.7 million.

Among the EU countries, imports increased from Germany and France. Imports also increased from the US and Turkmenistan. Meanwhile, imports from Russia, China and Iran decreased in the reporting period.

In February 2020, the main importing countries included Turkey, Azerbaijan, Russia, China, Russia, the US, Germany and Ukraine.

According to the bank, automobiles accounted for a significant share of imported goods - 8.4 percent.

The import of copper ores and concentrates intended for re-export had a significant impact on the growth of total imports.

As reported, imports of petroleum gases, trucks and electricity increased. Meanwhile, imports of oil and petroleum products, as well as medicines, declined.

According to the National Bank, imports in February 2020 were more diversified than in the same period last year.


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