Georgia’s external trade turnover amounted to $9.15 billion in January-October 2020, which is a decrease of 15 per cent compared to the same period of last year, show preliminary data from the National Statistics Office of Georgia (Geostat).
The value of exports decreased 11.1 per cent and reached $2.71 billion, while imports also decreased 16.6 per cent, amounting to $6.44 billion.
External merchandise trade tendencies of Georgia in January-October 2015-2020. Image: Geostat.
The trade deficit of Georgia in January-October 2020 amounted to $3.72 billion which is 40.7 per cent of total trade turnover.
Trade deficit is an economic measure of the negative balance of trade in which a country's imports exceed its exports.