Georgia’s Foreign Trade Up 5.5% in January-October 2024
On November 19, the National Statistics Service of Georgia (Geostat) published preliminary data indicating that in January-October 2024, Georgia’s foreign trade increased by 5.5% year-on-year totaling USD 19.025 billion in value.
In January-October 2024, Georgia’s exports increased by 7.4% to USD 5.468 billion, while imports grew by 4.8% to USD 13.557 billion. As a result, the country’s negative trade balance stood at USD 8.089 billion, representing 42.5% of its foreign trade turnover.
In the same period, Turkey was Georgia’s largest trade partner with USD 2.636 billion in trade volume, followed by Russia with USD 2.062 billion, the United States with USD 1.728 billion, China with USD 1.598 billion, and Germany with USD 1.084 billion.
During the reporting period, most of Georgia’s exports went to Kyrgyzstan with USD 1.048 billion, followed by Kazakhstan with USD 714 million, Azerbaijan with USD 611 million, Russia with USD 580 million, and Armenia – USD 512 million.
Most of Georgia’s imports came from Turkey, with a total value of USD 2.219 billion, followed by the United States with USD 1.596 billion, Russia with USD 1.481 billion, China with USD 1.341 billion, and Germany with USD 1.042 billion.
In January-October 2024, the largest exported commodities were motor cars – USD 2 billion followed by ferro-alloys – USD 311 million; spirituous beverages – USD 242 million; wine of fresh grapes – USD 237 million; precious metal ores and concentrates – USD 198 million; natural or artificial mineral and aerated waters, not containing added sugar – USD 144 million; waters, mineral and aerated waters, containing added sugar – USD 119 million; nitrogenous fertilizers – USD 99 million; medicaments put up in measured doses – USD 95 million; gold unwrought or in semi-manufactured forms, or in powder form – USD 86 million; other commodities – USD 1.939 billion.
Major imports were motor cars – USD 2.718 billion; petroleum and petroleum oils – USD 1.091 billion; followed by medicaments put up in measured doses – USD 513 million; petroleum gases and other gaseous hydrocarbons – USD 304 million; telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) – USD 261 million; automatic data processing machines and units thereof – USD 232 million; motor vehicles for the transport of goods – USD 178 million; other bars and rods of iron or nonalloy steel – USD 170 million; cigars, cheroots, cigarillos and cigarettes – USD 133 million; structures and parts of structures of iron or steel – USD 115 million; other commodities – USD 7.842 billion.
Also Read:
- 13/11/2024 – Georgia’s Foreign Trade Up 5.5% in January-October 2024
- 21/10/2024 – Georgia’s Foreign Trade Up 3.7% in January-September 2024
- 15/10/2024 – Georgia’s Foreign Trade Up 3.7% in January-September 2024
- 19/09/2024 – Georgia’s Foreign Trade Up 3% in January-August 2024
- 13/09/2024 – Georgia’s Foreign Trade Up 3% in January-August 2024
- 19/08/2024 – Georgia’s Foreign Trade Up 1.6% in January-July 2024
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