BAKU, Azerbaijan, June 1
By Tamilla Mammadova - Trend:
In April 2020, the export of Georgian goods in annual terms decreased by 27.9 percent year-on-year, Trend reports referring to the report published by National Bank of Georgia (NBG).
According to the bank, a decrease in export revenues was significantly affected by a decrease in Georgian exports to Azerbaijan (mainly due to a decrease in exports of cars, medicines and cigarettes).
Among the countries of the region, export revenues to Russia (mainly due to natural grape wines and mineral waters) and to Ukraine (due to cars, alcoholic drinks and mineral waters) also decreased significantly, said the report.
In turn, exports from Georgia to the United States increased (mainly due to increased exports of ferroalloys).
Among the EU countries, export from Georgia to Switzerland (export of raw gold) has increased significantly, said the bank.
In April 2020, there was also an increase in exports to China, mainly due to the re-export of copper ore and precious metal ore, as well as their concentrators.
In the reporting period, the main countries where Georgia exported its goods included China, Russia, Bulgaria, Azerbaijan, the US, Uzbekistan and Switzerland. The share of Georgia’s seven largest trading partner countries in total exports amounted to 70 percent.
“Revenues from the export of medicines and natural grape wines from Georgia have significantly decreased, while the demand for ferroalloys and ethyl alcohol increased significantly, and income from the export of raw gold also increased,” NBG said.
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