Georgia’s Foreign Trade Down 1.8% in January-June 2024

On July 19, the National Statistics Service of Georgia (Geostat) published preliminary data indicating that in January-June 2024, Georgia’s foreign trade decreased by 1.8% compared to the same period of 2023, totaling $10.319 billion in value.

In January-July 2024, exports from Georgia decreased by 6.7% to $2.848 billion, while imports increased by 0.2% to $7.472 billion. As a result, the country’s negative trade balance was $4.624 billion, representing 44.8% of its foreign trade turnover.

In the same period, Turkey was Georgia’s largest trade partner with $1.529 billion in trade volume, followed by Russia with $1.198 billion, China with $855 million, United States with $815 million, and Azerbaijan with $598 million.

During the reporting period, Kyrgyzstan was Georgia’s largest trade partner in exports with $453 million, followed by Kazakhstan with $354 million, Russia with $340 million, Azerbaijan with $318 million, and Armenia with $278 million.

As for imports, Georgia’s largest trading partners were Turkey with $1.285 billion, Russia with $858 million, the United States with $771 million, China with $709 million, and Germany with $499 million.

In January-May 2024, the largest commodity groups in exports were led by motor cars – $934 million. Then come: wine of fresh grapes – $157 million; ferro-alloys – $143 million; spirituous beverages – $132 million; precious metal ores and concentrates – $102 million; natural or artificial mineral and aerated waters, not containing added sugar – $81 million; nitrogenous fertilizers – $61 million; waters, mineral and aerated waters, containing added sugar – $58 million; medicaments put up in measured doses – $54 million; gold unwrought or in semi-manufactured forms, or in powder form – $50 million; other commodities – $1.077 billion.

As for imports, the major commodity groups here are motor cars – $1.247 billion; petroleum and petroleum oils – $632 million; medicaments put up in measured doses – $319 million; petroleum gases and other gaseous hydrocarbons – $227 million; automatic data processing machines and units thereof – $162 million; telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) – $146 million; motor vehicles for the transport of goods – $99 million; bars and rods of iron or non-alloy steel – $76 million; cigars, cheroots, cigarillos and cigarettes – $73 million; structures and parts of structures of iron or steel – $65 million; other commodities – $4.425 billion.

Also Read:

• 19/06/2024 – Georgia’s Foreign Trade Down 2.2% in January-May 2024
• 13/06/2024 – Georgia’s Foreign Trade Down 2.3% in January-May 2024
• 20/05/2024 – Georgia’s Foreign Trade Down 2.7% in January-April 2024
• 13/05/2024 – Georgia’s Foreign Trade Down 2.7% in January-April 2024
• 22/04/2024 – Georgia’s Foreign Trade Down 6.5% in January-March 2024
• 19/03/2024 – Georgia’s Foreign Trade Down 4.8% in January-February 2024

This post is also available in: ქართული (Georgian) Русский (Russian)