External merchandise trade in Georgia, January-February 2020
By Nika Gamtsemlidze
Monday, March 16
The National Statistics Office of Georgia published a study on external merchandise trade in Georgia in January and February of 2020.
External Merchandise Trade (excluding non-declared trade) of Georgia amounted to USD 1 855.0 million in January-February 2020, 6.1 percent higher year-on-year. The value of export increased by 4.5 percent reaching USD 526.3 million, while the import increased by 6.8 percent and amounted to USD 1 328.7 million. The trade deficit equaled USD 802.5 million and its share in trade turnover constituted 43.3 percent.
The study was established with the help of findings of LEPL Revenue Service of Ministry of Finance of Georgia; Georgian State Electrosystem, JSC; Electricity System Commercial Operator, JSC; Georgian Gas Transportation Company, LTD.
Merchandise trading or the trading of goods is any transaction involving the transfer of ownership of a tangible and moveable object from a seller to a buyer. Export merchandising is a method of offering retail goods for sale in a foreign consumer market. Many large companies across the country maintain entire divisions devoted to finding ways to better enter foreign retail markets through export merchandising to increase profit and sustain growth.
Merchandising is the advertisement of goods for sale at retail locations. This can take several forms, including on-site product demonstrations, providing free samples of product to customers and displaying product pricing points in store windows.
Extensive planning goes into the merchandising process and a company's chosen techniques often seek to place the appropriate products within specific markets to meet targeted needs of consumers within those markets.
Export merchandising applies all the principles of product merchandising but in a country separate from the originating business's home territory. Marketing personnel must determine how the company's proposed product export can find a niche within a foreign market and how foreign consumers might receive the product. The business must also find retail locations to sell the merchandised export and ensure that these locations provide adequate access for targeted consumers to purchase the exported product.
The National Statistics Office of Georgia, the legal entity of public law, carries out its activities independently. It is an institution established to produce the statistics and disseminate the statistical information according to the Georgian legislation.The National Statistics Office of Georgia was established by the Law of Georgia, 11 December 2009, on Official Statistics.
