Georgia’s Foreign Trade Down 14.8% in January 2024

On February 19, the National Statistics Service of Georgia (Geostat) published preliminary data indicating that in January 2024, Georgia’s foreign trade decreased by 14.8% compared to the same period of 2023, totaling $1.34 billion in value.

In January 2024, exports from Georgia decreased by 26.2% to $338.6 million, while imports rose by 10.1% to $1 billion. As a result, the country’s negative trade balance was $664.1 million, representing 49.5% of its foreign trade turnover.

In the same period, Turkey was Georgia’s largest trade partner with $233 million in trade volume, followed by Russia with $190 million, China with $96 million, Azerbaijan with $93 million, and United States with $75 million.

During the reporting period, Kyrgyzstan was Georgia’s largest trade partner in exports with $46 million, followed by Russia with $42 million, Azerbaijan with $41 million, Armenia with $36 million, and Kazakhstan with $36 million.

In terms of imports, Georgia’s largest trading partners were Turkey with $203 million, Russia with $148 million, China with $76 million, the United States with $73 million, and Germany with $53 million.

In January 2024, the largest commodity groups in exports were led by motor cars – $112 million. Then come: ferro-alloys – $19 million; wine of fresh grapes – $18 million; precious metal ores and concentrates – $14 million; spirituous beverages – $13 million; natural or artificial mineral and aerated waters, not containing added sugar – $9 million; nitrogenous fertilizers – $8 million; citrus fruit, fresh or dried – $8 million; petroleum and petroleum oils – $8 million; medicaments put up in measured doses – $7 million; other commodities – $122 million.

As for imports, the major commodity groups here are motor cars – $101 million; petroleum and petroleum oils – $80 million; petroleum gases and other gaseous hydrocarbons – $67 million; medicaments put up in measured doses – $60 million; telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) – $34 million; other bars and rods of iron or non-alloy steel – $24 million; motor vehicles for the transport of goods – $16 million; vaccines, blood and immune products – $13 million; automatic data processing machines and units thereof – $12 million; structures and parts of structures of iron or steel – $10 million; other commodities – $585 million.

Also Read:

• 13/02/2024 – Georgia’s Foreign Trade Down 14.9% in January 2024
• 22/01/2024 – Georgia’s Foreign Trade Up 12.5% in 2023
• 15/01/2024 – Georgia’s Foreign Trade Up 12.5% in 2023
• 13/12/2023 – Georgia’s Foreign Trade Up 14.7% in January-November 2023
• 13/11/2023 – Georgia’s Foreign Trade Up 16.2% in January-October 2023

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