Georgia’s Foreign Trade Down 4.8% in January-February 2024

On March 19, the National Statistics Service of Georgia (Geostat) published preliminary data indicating that in January-February 2024, Georgia’s foreign trade decreased by 4.8% compared to the same period of 2023, totaling $2.950 billion in value.

In January-February 2024, exports from Georgia decreased by 12.2% to $803.3 million, while imports lowered by 1.6% to $2.15 billion. As a result, the country’s negative trade balance was $1.34 billion, representing 45.5% of its foreign trade turnover.

In the same period, Turkey was Georgia’s largest trade partner with $472 million in trade volume, followed by Russia with $411 million, China with $228 million, Azerbaijan with $207 million, and United States with $177 million.

During the reporting period, Kyrgyzstan was Georgia’s largest trade partner in exports with $126 million, followed by Azerbaijan with $100 million, Russia with $97 million, Kazakhstan with $85 million, and Armenia with $79 million.

In terms of imports, Georgia’s largest trading partners were Turkey with $408 million, Russia with $314 million, China with $174 million, the United States with $171 million, and Germany with $119 million.

In January-February 2024, the largest commodity groups in exports were led by motor cars – $263 million. Then come: wine of fresh grapes – $48 million; ferro-alloys – $42 million; spirituous beverages – $35 million; precious metal ores and concentrates – $34 million; natural or artificial mineral and aerated waters, not containing added sugar – $22 million; nitrogenous fertilizers – $21 million; medicaments put up in measured doses – $18 million; waters, mineral and aerated waters, containing added sugar – $14 million; gold unwrought or in semi-manufactured forms, or in powder form – $14 million; other commodities – $293 million.

As for imports, the major commodity groups here are motor cars – $258 million; petroleum and petroleum oils – $187 million; petroleum gases and other gaseous hydrocarbons – $127 million; medicaments put up in measured doses – $103 million; telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) – $59 million; bars and rods of iron or non-alloy steel – $33 million; motor vehicles for the transport of goods – $32 million; automatic data processing machines and units thereof – $25 million; aircraft – $22 million; structures and parts of structures of iron or steel – $19 million; other commodities – $1.28 billion.

Also Read:

• 13/03/2024 – Georgia’s Foreign Trade Down 5.0% in January-February 2024
• 19/02/2024 – Georgia’s Foreign Trade Down 14.8% in January 2024
• 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

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