Georgia’s Foreign Trade Up 1.6% in January-July 2024
On August 19, the National Statistics Service of Georgia (Geostat) published preliminary data indicating that in January-July 2024, Georgia’s foreign trade increased by 1.6% year-on-year totaling USD 12.567 billion in value.
In January-July 2024, Georgia’s exports fell by 1.3% to USD 3.532 billion, while imports grew by 2.9% to USD 9.035 billion. As a result, the country’s negative trade balance stood at USD 5.502 billion, representing 43.8% of its foreign trade turnover.
In the same period, Turkey was Georgia’s largest trade partner with USD 1.810 billion in trade volume, followed by Russia with USD 1.428 billion, United States with USD 1.079 billion, China with USD1.056 billion, and Azerbaijan with USD 724 million.
During the reporting period, most of Georgia’s exports went to Kyrgyzstan with USD 588 million, followed by Kazakhstan with USD 447 million, Russia with USD 407 million, Azerbaijan with USD 401 million, and Armenia – USD 346 million.
Most of Georgia’s imports came from Turkey, with a total value of USD 1.520 billion, followed by Russia with USD 1.021 billion, the United States with USD 991 million, China with USD 880 million, and Germany with USD 634 million.
In January-July 2024, the largest exported commodities were motor cars – USD1.193 billion followed by ferro-alloys – USD 201 million; wine of fresh grapes – USD 174 million; spirituous beverages – USD 162 million; precious metal ores and concentrates – USD 117 million; natural or artificial mineral and aerated waters, not containing added sugar – USD 97 million; waters, mineral and aerated waters, containing added sugar – USD 75 million; nitrogenous fertilizers – USD 73 million; medicaments put up in measured doses – USD 63 million; gold unwrought or in semi-manufactured forms, or in powder form – USD 58 million; other commodities – USD 1.317 billion.
Major imports were motor cars – USD 1.608 billion; petroleum and petroleum oils – USD 770 million; followed by medicines – USD 370 million; petroleum gases and other gaseous hydrocarbons – USD 238 million; automatic data processing machines and units thereof – USD 194 million; telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) – USD 173 million; motor vehicles for the transport of goods – USD 120 million; cigars, cheroots, cigarillos and cigarettes – USD 90 million; other bars and rods of iron or non-alloy steel – USD86 million; structures and parts of structures of iron or steel – USD 78 million; other commodities – USD 5.308 billion.
Also Read:
- 13/08/2024 – Georgia’s Foreign Trade Up 1.6% in January-July 2024
- 26/07/2024 – Georgia’s Foreign Trade Down 1.8% in January-June 2024
- 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
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