Georgia’s Foreign Trade Down 6.5% in January-March 2024

On April 19, the National Statistics Service of Georgia (Geostat) published preliminary data indicating that in January-March 2024, Georgia’s foreign trade decreased by 6.5% compared to the same period of 2023, totaling $4.699 billion in value.

In January-March 2024, exports from Georgia decreased by 9.3% to $1.326 billion, while imports lowered by 5.3% to $3.373 billion. As a result, the country’s negative trade balance was $2.047 billion, representing 43.6% of its foreign trade turnover.

In the same period, Turkey was Georgia’s largest trade partner with $722 million in trade volume, followed by Russia with $619 million, China with $331 million, United States with $329 million, and Azerbaijan with $299 million.

During the reporting period, Kyrgyzstan was Georgia’s largest trade partner in exports with $236 million, followed by Russia with $161 million, Kazakhstan with $147 million, Azerbaijan with $135 million, and Armenia with $127 million.

In terms of imports, Georgia’s largest trading partners were Turkey with $625 million, Russia with $458 million, the United States with $299 million, China with $267 million, and Germany with $223 million.

In January-March 2024, the largest commodity groups in exports were led by motor cars – $444 million. Then come: wine of fresh grapes – $84 million; ferro-alloys – $73 million; spirituous beverages – $57 million; precious metal ores and concentrates – $40 million; natural or artificial mineral and aerated waters, not containing added sugar – $37 million; nitrogenous fertilizers – $34 million; medicaments put up in measured doses – $29 million; waters, mineral and aerated waters, containing added sugar – $24 million; T-shirts knitted – $24 million; other commodities – $483 million.

As for imports, the major commodity groups here are motor cars – $487 million; petroleum and petroleum oils – $290 million; petroleum gases and other gaseous hydrocarbons – $184 million; medicaments put up in measured doses – $153 million; telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) – $79 million; motor vehicles for the transport of goods – $49 million; bars and rods of iron or non-alloy steel – $41 million; automatic data processing machines and units thereof – $38 million; structures and parts of structures of iron or steel – $30 million; motor vehicles for the transport of ten or more persons – $29 million; other commodities – $1.995 billion.

Also Read:

• 19/03/2024 – Georgia’s Foreign Trade Down 4.8% in January-February 2024
• 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

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