Georgian external trade up 25.6% in 2021
In December of 2021, the exports amounted to 419.5 million USD, while imports amounted to 1.04 billion USD, and total turnover to 1.46 billion USD, while the trade deficit was 622.3 million USD. Photo: Nino Alavidze/Agenda.ge.
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Georgian external trade turnover amounted to 14.31 billion USD in 2021, which is an increase of 25.6% year-on-year, express data from the National Statistics Office of Georgia (Geostat) show.
The value of exports grew by 26.9% and equalled 4.24 billion USD, while imports also increased 25.1%, reaching 10 billion USD.
Image: Geostat.
The trade deficit, a measure of the negative balance of trade in which a country's imports exceed its exports, totalled 5.83 billion USD, and its share in trade turnover 40.7%.
In December of 2021, the exports amounted to 419.5 million USD, while imports amounted to 1.04 billion USD, and total turnover to 1.46 billion USD, while the trade deficit was 622.3 million USD.
Georgian Economy Minister Natia Turnava has stated that the export of Georgian products remains the main driving force of the country’s economic growth and recovery.
Georgia’s external trade turnover amounted to $11.34 billion in 2020, which is a decrease of 14.8 per cent compared to last year, show preliminary data from the National Statistics Office of Georgia (Geostat).
A total of 17,000 tonnes of Georgian hazelnuts have been exported from August 1 to December 26, at a value of 77.2 million USD, the Georgian Agriculture Ministry announces.
Exports of tangerines have increased by 34% in the last four months and amounted to 31,900 tonnes, bringing in $15.7 million, which is a 37% increase compared to the same period of the previous year, the Georgian Ministry of Agriculture and Environmental Protection reports.
Turkey (2.1 billion USD), Russia (1.6 billion USD) and China (1.4 billion USD) are the top trading partners of Georgia in total external trade turnover in 2021, preliminary data from the National Statistics Office of Georgia (Geostat) show.
Georgia has exported 18,400 tonnes of hazelnuts between August 1, 2021, and January 23, 2022, which is a 28% increase compared to the same period of last year, the Georgian Ministry of Agriculture and Environmental Protection announces.
The Georgian economy is projected to grow 5.5% in 2022 and 5% in 2023, the January edition of the World Bank’s report Global Economic Prospects 2022 says.
Fitch Ratings, a global financial ratings firm, has affirmed Georgia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) status with a BB rating, also calling the country’s financial developments “broadly stable”.
Georgia exported 5,3 million bottles of wine to 35 countries in January 2022, 51 percent more compared to the same period from last year, the Ministry of Agriculture and Environmental Protection announced on Tuesday.
Georgian external trade turnover amounted to $1.1 billion in January 2022, an increase of 41.1 percent year-on-year, latest data from the National Statistics Office of Georgia (Geostat) shows.
Georgia will export both animal and plant products, including small and large cattle and locally produced honey, to Saudi Arabia, the Head of the National Food Agency Zurab Chekurashvili announced earlier today.
The estimated real Gross Domestic Product (GDP) increased by 9.6% in December 2021 year-on-year and by 10.6% in 2021 compared to the previous year, the latest data from the National Statistics Office of Georgia (Geostat) show.
Georgian Prime Minister Irakli Garibashvili on Tuesday discussed trade, export markets and his country’s investment potential with Vladimír Dlouhý, the newly appointed President of Eurochambres, the Association of European Chambers of Commerce and Industry.