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Georgia sees decrease in external merchandise trade

Business Materials 13 October 2020 12:21 (UTC +04:00)

BAKU, Azerbaijan, October 13

By Tamilla Mammadova – Trend:

External Merchandise Trade (excluding non-declared trade) of Georgia amounted to $8.12 billion from January through September 2020, Trend reports referring to Georgian National Statistics Office (Geostat).

As reported, this is 14.9 percent lower year-on-year.

The value of export decreased by 12.1 percent reaching $2.40 billion, while the import decreased by 15.9 percent and amounted to $5.71 billion. The trade deficit equaled $3.31 billion and its share in trade turnover constituted 40.8 percent.

The external merchandise trade (excluding non-declared trade) of Georgia amounted to $7.02 billion from January through August 2020, 16.7 percent lower to the same period of 2019. The exports equaled $2.07 billion (14.7 percent lower), while the imports stood at $4.95 billion (17.5 percent lower). The negative trade balance was $2.88 billion from January through August 2020 and its share in external trade turnover constituted 41 percent.

In January-August 2020 the share of the top ten trading partners by exports in the total exports of Georgia amounted to 77.3 percent. The top partners were China ($296.6 million), Azerbaijan ($284.3 million), and Russia ($266 million).

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