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Georgia's foreign trade turnover increases

Business Materials 18 June 2021 17:32 (UTC +04:00)
Georgia's foreign trade turnover increases

BAKU, Azerbaijan, June 18

By Tamilla Mammadova – Trend:

Georgia's foreign trade turnover increased by 18.2 percent from January through May 2021 and amounted to $5 billion, Trend reports via the National Statistics Office of Georgia (Geostat).

According to official statistics released by Geostat, Georgia earned $1.5 billion in export earnings, which is 24.4 percent more than in the same period last year.

As for imports, this figure increased by 15.7 percent to $3.5 billion.

The negative trade balance from January through May 2021 amounted to $1.9 billion and 38.7 percent of foreign trade turnover.

From January through April 2021 the share of the top ten trading partners by exports in the total exports of Georgia amounted to 78.2 percent. The top partners were China ($198.7 million), Russia ($159.6 million) and Azerbaijan ($152.2 million).

In the reporting period the share of the top ten trading partners by imports in the total imports of Georgia amounted to 70.6 percent. The top partners were Turkey ($490.5 million), Russia ($316.6 million) and China ($227 million).

From January through April 2021 the share of the top ten trading partners in the total external trade turnover of Georgia amounted to 72.2 percent. The top trading partners were Turkey ($594.9 million), Russia ($476.2 million) and China ($425.6 million).

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