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Export Price Index up in Georgia

Business Materials 26 January 2021 13:56
Export Price Index up in Georgia

BAKU, Azerbaijan, Jan. 26

By Tamilla Mammadova – Trend:

The Export Price Index (XPI) increased by 0.6 percent in December 2020 compared to the previous month in Georgia, Trend reports citing the Georgian National Statistics Office (Geostat).

There was a 0.6 percent increase in the prices of manufactured products.

Compared to December 2019 the XPI increased by 13.5 percent. In the mentioned period prices increased for manufactured products by 9.4 percent and for products from mining and quarrying by 41.9 percent.

The Import Price Index (MPI) increased by 0.9 percent over the previous month, while compared to December 2019 the index increased by 10.9 percent.

Compared to December 2019 the prices were 12.7 percent higher for manufactured products, while for products from mining and quarrying a price decrease of 7.3 percent was registered. With regard to electricity, gas, steam, and air conditioning, the prices were 10.9 percent lower.

The external merchandise trade (excluding non-declared trade) of Georgia amounted to $11.34 billion in 2020, 14.8 percent lower year-on-year.

The exports equaled $3.34 billion (12 percent lower), while the imports stood at $8 billion (15.9 percent lower). The negative trade balance was $4.66 billion in 2020 and its share in external trade turnover constituted 41.1 percent.

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