...

Cars re-export sees significant decline in Georgia

Business Materials 19 April 2021 18:54 (UTC +04:00)
Cars re-export sees significant decline in Georgia

BAKU, Azerbaijan, April 19

Tamilla Mammadova – Trend:

Cars re-export saw a significant decline of 52.2 percent from $133 million to $97 million in Georgia, Trend reports via Georgian media.

From January through February 2021 Georgia exported cars worth $50 million, while in the same period of 2020 the figure reached $105 million.

Excluding service exports, last year Georgia's auto sector suffered $330 million in losses.

Demand for cars fell sharply in 2020 as a result of the deteriorating economic situation in the region, the process is still ongoing.

Re-export of passenger cars has been in operation since 2005. It surpassed $100 million for the first time in 2008 and reached $704 million in 2013.

---

Follow the author on Twitter: @Mila61979356

Tags:
Latest

Latest