On September 19, the National Statistics Service of Georgia (Geostat) published preliminary data indicating that in January-August 2024, Georgia’s foreign trade increased by 3% year-on-year totaling USD 14.701 billion in value.
In January-August 2024, Georgia’s exports increased by 2.5% to USD 4.174 billion, while imports grew by 3.3% to USD 10.527 billion. As a result, the country’s negative trade balance stood at USD 6.353 billion, representing 43.2% of its foreign trade turnover.
In the same period, Turkey was Georgia’s largest trade partner with USD 2.085 billion in trade volume, followed by Russia with USD 1.636 billion, United States with USD 1.279 billion, China with USD 1.235 billion, and Azerbaijan with USD 848 million.
During the reporting period, most of Georgia’s exports went to Kyrgyzstan with USD 746 million, followed by Kazakhstan with USD 538 million, Azerbaijan with USD 476 million, Russia with USD 469 million, and Armenia – USD 412 million.
Most of Georgia’s imports came from Turkey, with a total value of USD 1.762 billion, followed by the United States with USD 1.186 million, Russia with USD 1.167 billion, China with USD 1.033 million, and Germany with USD 769 million.
In January-August 2024, the largest exported commodities were motor cars – USD 1.478 billion followed by ferro-alloys – USD 220 million; wine of fresh grapes – USD 197 million; spirituous beverages – USD 187 million; precious metal ores and concentrates – USD 148 million; natural or artificial mineral and aerated waters, not containing added sugar – USD 112 million; waters, mineral and aerated waters, containing added sugar – USD 93 million; nitrogenous fertilizers – USD 81 million; medicaments put up in measured doses – USD 75 million; gold unwrought or in semi-manufactured forms, or in powder form – USD 67 million; other commodities – USD 1.516 billion.
Major imports were motor cars – USD 1.978 billion; petroleum and petroleum oils – USD 881 million; followed by medicaments put up in measured doses – USD 416 million; petroleum gases and other gaseous hydrocarbons – USD 259 million; automatic data processing machines and units thereof – USD 210 million; telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) – USD 201 million; motor vehicles for the transport of goods – USD 139 million; bars and rods of iron or nonalloy steel – USD 112 million; cigars, cheroots, cigarillos and cigarettes – USD 103 million; structures and parts of structures of iron or steel – USD 92 million; other commodities – USD 6.136 billion.
Also Read:
- 13/09/2024 – Georgia’s Foreign Trade Up 3% in January-August 2024
- 19/08/2024 – Georgia’s Foreign Trade Up 1.6% in January-July 2024
- 13/08/2024 – Georgia’s Foreign Trade Up 1.6% in January-July 2024
- 26/07/2024 – Georgia’s Foreign Trade Down 1.8% in January-June 2024
- 19/06/2024 – Georgia’s Foreign Trade Down 2.2% in January-May 2024
- 13/06/2024 – Georgia’s Foreign Trade Down 2.3% in January-May 2024