Georgian foreign trade decreases

According to official data Georgia’s foreign trade turnover in the first three months of 2009 decreased by 30.7% compared to the analogous period last year. Foreign trade turnover was GEL 1.2022 billion, of which GEL 220 million was export and GEL 942 million import, meaning import is four times greater than export.

Economic analyst Demur Giorkhelidze thinks that the decrease in imports is explained by the fact that the population has less money. The decrease in exports is a reflection of decreasing demand for Georgia’s export items.

On May 4 while speaking in the Guria region President Saakashvili promised that in 2010 exports would exceed imports in Georgia. Economic analysts however think this unrealistic.