External Merchandise Trade of Georgia in January - June 2020

External Merchandise Trade of Georgia in January - June 2020

The FINANCIAL -- National Statistics Office of Georgia published express data of External Merchandise Trade of Georgia in January - June 2020. The trade deficit of Georgia equaled USD 2 065.4 million and its share in trade turnover constituted 40.7 percent. External Merchandise Trade of Georgia decreased by 16.3 %. It amounted $ 5 072.5 million in January-June 2020, while export decreased by 15.6 % and mounted $1 503.5 million. Also, we can see 16.5% drop of import, which amounted $3 568.9 million.

EXTERNAL MERCHANDISE TRADE OF GEORGIA IN JANUARY-JUNE 2020

External Merchandise Trade (excluding non-declared trade) of Georgia amounted to USD 5 072.5 million in January-June 2020, 16.3 percent lower year-on-year. The value of export decreased by 15.6 percent reaching USD 1 503.5 million, while the import decreased by 16.5 percent and amounted to USD 3 568.9 million. The trade deficit equaled USD 2 065.4 million and its share in trade turnover constituted 40.7 percent, as reported by The National Statistics Office of Georgia.

EXTERNAL MERCHANDISE TRADE OF GEORGIA IN JANUARY 2020

External Merchandise Trade (excluding non-declared trade) of Georgia amounted to USD 882.4 million in January 2020, 5.7 percent higher to the same month of 2019. The value of export increased by 10.0 percent reaching USD 262.6 million, while the import increased by 3.9 percent and amounted to USD 619.7 million. The trade deficit equaled USD 357.1 million and its share in trade turnover constituted 40.5 percent.

EXTERNAL MERCHANDISE TRADE OF GEORGIA IN JANUARY- APRIL 2020

In January-April 2020 the external merchandise trade (excluding non-declared trade) of Georgia amounted to USD 3 463.5 million, 11.8 percent lower to the same period of 2019, was reported by Georgian Public Broadcasting in May. The negative trade balance was USD 1 460.8 million in January-April 2020 and its share in external trade turnover constituted 42.2 percent. According to Geostat, In January-April 2020 the share of the top ten trading partners by exports in the total exports of Georgia amounted to 78.1 percent. The top partners were Azerbaijan (USD 145.2 million), China (USD 135.5 million) and Russia (USD 125.6 million).

Last week, Natia Turnava Met with Minister of Foreign Affairs and Trade of Hungary, Péter Szijjártó. “This visit of the Hungarian Minister of Foreign Affairs and Trade is the first high-ranking visit to Georgia since the end of the state of emergency. This is symbolic because Hungary is our ally and strategic partner country with we have many common programs and projects and growing economic cooperation,” – Natia Turnava, the Minister of Economy and Sustainable Development stated after the meeting with Hungarian Foreign and Trade Minister.

Hungarian airline Wizz Air was another topic of the conversation. Natia Turnava noted that the Hungarian airline operates very actively in Georgia and has significantly expanded its operations in the conditions that were created in Georgia. “Our Hungarian guest was happy to know that Georgian Government included the Wizz Air in our Government program aimed at bringing Georgian citizens home from the foreign countries. Of course, we look forward the moment when we, together with the Wizz Air restore the regular flights. However, at this stage, the Hungarian airline will help us to bring our citizens from abroad,” – the Minister of Economy and Sustainable Development said.

Wizz Air launches new route from Kutaisi, Georgia to Abu Dhabi, United Arab Emirates. Read more.

Author: The FINANCIAL

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