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Exports markets demonstrate growing demand for Georgian medications

Business Materials 21 April 2021 17:44 (UTC +04:00)
Exports markets demonstrate growing demand for Georgian medications

BAKU, Azerbaijan, April 21

Tamilla Mammadova – Trend:

Export markets demonstrate a growing demand for Georgian medicine, Trend reports referring to Georgian National Statistics Office (Geostat).

According to Geostat, from January through March 2021, the country exported medications worth $19 million to foreign markets, up 56.3 percent year-on-year.

From January through March 2020, Georgia exported medications worth $12.2 million. The ratio of medications in total exports constituted 2.3 percent, while the figure was 1.65 percent in the first quarter of 2019.

Medications rank ninth in Georgia’s top 10 export items.

The external merchandise trade (excluding non-declared trade) of Georgia amounted to $2.77 billion from January through March 2021, 0.3 percent lower to the same period of 2020.

The exports equaled $820.6 million (5.2 percent higher), while the imports stood at $1.95 billion (2.4 percent lower). The negative trade balance was $1.13 billion from January through March 2021 and its share in external trade turnover constituted 40.8 percent.

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