Foreign trade down by 14.9% in January-September
By Natalia Kochiashvili
Wednesday, October 14
The National Statistics Office of Georgia (Geostat) has published preliminary data on Georgia’s foreign trade turnover for the first 9 months of 2020. In January-September the corresponding number amounted to $ 8 121 million, excluding the undeclared trade. The figure is 14.9% less than the same period 2019.
According to Geostat, of these, exports were down by 12.1% ($ 2,403.5 million), whilst imports were down by 15.9% ($ 5,717.6 million).
The negative trade balance in January-September 2020 reduced by $752,6 million and amounted to $3,314.1 million, accounting for 40.8% of foreign trade turnover, 1.8% improvement compared to the previous year. Note that 2019 export reached record-high $3.798,4 million, improving the previous year’s outcome by 12.4%.
According to Geostat, exports increased to GEL332 million in September alone. At the same time, the trade deficit improved by $ 98.5 million.
“Georgia's economy is gradually returning to positive development,” said Natia Turnava, the Minister of Economy and Sustainable Development, while assessing Geostat's express foreign trade data for September 2020.
She said she was pleased that exports grew by 8.6% in September. “Imports have decreased and this means improving the foreign trade balance,” Turnava emphasized, adding that agricultural and textile products make a special contribution to the growth of exports.
According to the ministry of agriculture, Georgia has exported 6 273 tones of nuts, the cost of which has amounted to $ 33.7 million - surge of 63% compared to the corresponding number of 2019.
As for the exports of apples, the ministry says that in the first 9 months of 2020, 2 148 tones have been exported ($ 947 000), 6 times more than 2019.
