Georgia’s Foreign Trade Up 16.2% in January-October 2023

On November 20, the National Statistics Service of Georgia (Geostat) published preliminary data indicating that in January-October 2023, Georgia’s foreign trade increased by 16.2% compared to the corresponding period of the previous year, totaling $17.8 billion in value.

During the same period, exports from Georgia increased by 12.5% to $5.1 billion, while imports rose by 17.8% to $12.7 billion. As a result, the country’s negative trade balance was $7.6 billion, representing 42.6% of its foreign trade turnover.

In January-October 2023, Turkey was Georgia’s largest trade partner with $2.46 billion in trade volume, followed by Russia with $2.04 billion, United States with $1.67 billion, China with $1.4 billion, and Azerbaijan with $1.23 billion.

During the same period, Azerbaijan was Georgia’s largest trade partner in exports with $714 million, followed by Armenia with $658 million, Kazakhstan with $580 million, Kyrgyzstan with $564 million, and Russia with $559 million.

In terms of imports, Georgia’s largest trading partners were Turkey with $2.1 billion, United Stated with $1.6 billion, Russia with $1.5 billion, China with $1.13 billion, and Germany with $767 million.

In January-October 2023, the largest commodity groups in exports were led by motor cars – $1.76 billion. Then come: copper ores and concentrates – $451 million US dollars; wine of fresh grapes – $217 million; spirituous beverages – $154 million; ferro-alloys – $143 million; nitrogenous fertilizers – $137 million; natural or artificial mineral and aerated waters, not containing added sugar – $115 million; electrical energy – $103 million; medicaments put up in measured doses – $98 million; mineral and aerated waters, containing added sugar – $94 million; other commodities – $1.83 billion.

As for imports, the major commodity groups here are motor cars – $2.59 billion; petroleum and petroleum oils – $929 million; medicaments put up in measured doses – $445 million; petroleum gases and other gaseous hydrocarbons – $352 million; telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) – $298 million; copper ores and concentrates – $219 million; motor vehicles for the transport of goods – $137 million; automatic data processing machines and units thereof – $132 million; cigars, cheroots, cigarillos, and cigarettes – $132 million; tractors – $132 million; other commodities – $7.3 billion.

Also Read:

• 13/11/2023 – Georgia’s Foreign Trade Up 16.2% in January-October 2023
• 19/10/2023 – Georgia’s Foreign Trade Up 16.5% in January-September 2023
• 13/10/2023 – Georgia’s Foreign Trade Up 16.6% in January-September 2023
• 19/09/2023 – Georgia’s Foreign Trade Up 16.8% in January-August 2023
• 13/09/2023 – Georgia’s Foreign Trade Up 16.8% in January-August 2023

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