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Friday, February 3, 2023

Georgia exported a record $504 million of goods in May

Georgia: As per the preliminary data from the Georgian National Statistics Office (Geostat), Georgia has exported a record $504 million of goods in the month of May, marking a 48 % increase as compared to the same month of the last year.

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Georgia: As per the preliminary data from the Georgian National Statistics Office (Geostat), Georgia has exported a record $504 million of goods in the month of May, marking a 48 % increase as compared to the same month of the last year.

Exports in Georgia this year have been distributed as follows:

  • January – $331 million
  • February – $429 million
  • March – $411 million
  • April – $416 million
  • May – $504 million

The update has not included precise data on the types of goods that have been exported or re-exported in the previous month, with figures on external merchandise trade to be published on June 20.

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In other figures, imports increased by 45 per cent on-year on year basis and reached $1.1 billion in the month of May.

Overall, the external trade turnover of Georgia amounted to $6.91 billion between January-May 2022, posting a 37 per cent growth year-on-year, Geostat said.

The value of exports grew by 36.2 per cent and equalled $2.09 billion in the reported span, while imports also increased by 37.3 per cent, amounting to $4.82 billion. 

The trade deficit, a measure of the negative balance of trade in which imports surpass exports, reached $2.72 billion, and the share of trade turnover hit 39.6 per cent. 

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