Attempts to decrease negative trade balance
By Messenger Staff
Thursday, May 13
Georgia’s negative foreign trade balance is quite serious and this is a serious concern for economic analysts and politicians. There is a threat that the trade balance can cause several complications.
Minister of Economic Development Zurab Pololikashvili has stated that the Government is taking serious steps to improve the situation and the negative balance is actually decreasing. He said that exports have been increasing for several years, despite the Russian embargo. Indeed, according to the official figures 2008 exports were more than double those of 2004, and in 2009 the negative foreign trade balance decreased 32% compared to the previous year. The figures for the first 2 months of 2010 suggest that this tendency is still present, as the number of countries with whom Georgia has a positive trade balance has increased. However the number of countries we have a negative trade balance with is still big.
Pololikashvili thinks that progress depends on the country’s economic team conducting a consistent and well targeted policy to diversify markets and products. Georgia should not target countries which might receive one or two export products, the choice offered them should be wider.
Minister of Economic Development Zurab Pololikashvili has stated that the Government is taking serious steps to improve the situation and the negative balance is actually decreasing. He said that exports have been increasing for several years, despite the Russian embargo. Indeed, according to the official figures 2008 exports were more than double those of 2004, and in 2009 the negative foreign trade balance decreased 32% compared to the previous year. The figures for the first 2 months of 2010 suggest that this tendency is still present, as the number of countries with whom Georgia has a positive trade balance has increased. However the number of countries we have a negative trade balance with is still big.
Pololikashvili thinks that progress depends on the country’s economic team conducting a consistent and well targeted policy to diversify markets and products. Georgia should not target countries which might receive one or two export products, the choice offered them should be wider.