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Exports of Georgian Manganese company down

Business Materials 28 June 2021 17:21 (UTC +04:00)
Exports of Georgian Manganese company down

BAKU, Azerbaijan, June 28

Tamilla Mammadova – Trend:

Exports of Georgian Manganese company down by 20 percent in 2020, Trend reports via Georgian media.

“Decline was observed in exports due to the global crisis amid the COVID-19 pandemic. Demand for products on international markets has decreased, " said the special manager of Georgian Manganese Nikoloz Chikovani.

“We predicted a decrease of 40-45 percent in exports, but the company did a lot and found new markets for its products. As a result, we had a decrease of 18-20 percent in 2020. This year will offset the decline, as we see a positive trend on the markets," he said.

He hopes that under normal conditions the company's share in the total export rate will be from 7 percent to 12-13 percent. The share in GDP ranges from 1 percent to 2 percent, which is not small. This company is important for the country.

As he said, in recent years, the company has done its best to minimize product imports. Today, 92-93 percent of the raw materials are purely local, which means less money is flowing out of the country.

From January through May 2021, exports of ferroalloys from Georgia increased by 32 percent to $144 million. With this indicator, ferroalloys occupy third place in the TOP-10 of major commodities by exports.

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