BAKU, Azerbaijan, August 26
By Tamilla Mammadova – Trend:
Georgia imported $35 million worth of fresh or dried fruits, vegetables, and nuts in the first seven months of 2021, Trend reports citing the EastFruit analytical portal.
As reported, this figure is 16 percent lower than in the same period in 2020, and 19 percent less than in 2019, and 29 percent lower than in 2018.
This year, Georgia spends even less on imports of fresh fruits, vegetables, nuts, and dried fruits than in 2020, when the coronavirus pandemic began and the subsequent global economic downturn.
According to the data, over the past two years, restrictions associated with COVID-19, as well as restricting the flow of tourists, have led to an overall decline in economic activity, which further worsened the exchange rate of the national currency, the lari. According to the National Bank of Georgia, imports account for up to 40 percent of tourist consumption. The value of lari in the first seven months of 2021 in dollar terms decreased by 34 percent compared to the same period in 2018 and 26 percent lower than the average for the last 5 years from January through July.
Over the past 5 years, the main imported products in monetary terms are bananas, onions, tomatoes, apples, oranges, cucumbers, and potatoes, with the first three products accounting for more than half of the total import value of fruits, vegetables, and nuts. Compared to the average value over the past 5 years, import prices for these products in USD have decreased on average by 21 percent, but prices in lari value have not changed. Over the same period, imports fell by an average of 15 percent and the value of imports fell by 33 percent.
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