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Economy Ministry Predicts Export Growth

Economy Ministry Predicts Export Growth

Ministry of Economy predicts export growth based on the express data of Foreign Trade in January and regards, that export growth will significantly reduce negative impact and promotes economic growth.

According to the ministry, the country received 55 million USD more comparing to the previous year. At that, agricultural products export amounted to 44.3 million USD (39% more and 12.5 million USD), industrial production – 132.7 million USD (42.5 million USD more and 47%).

More details:

  • Wine – exports 10.2 million USD (104% and 5.2 million USD more)
  • Mineral water – exports 7.6 million USD (35% and 2 mln. USD more)
  • Spirits – exports 7.5 million USD (185% and 5 million. USD more)
  • Cattle – export 3.2 million USD (111% and 1.8 million USD)
  • Lamb meat – exports 1.1 million USD (export was not carried out in previous January)
  • Ferroalloy – export 23.7 million USD (20 million USD and more than 6 times)
  • Copper ores – export 33.2 million USD (34% and 9 million USD more)
  • Nitrogenous fertilizers – export 11 million USD (65% and 4 million USD more)
  • Medications – exports 9.3 million USD (85% and 4.3 million USD more)

To remind, Georgia’s foreign trade turnover has made up 651 million USD in January, 2017, which exceeds by 22% comparing to the same period of the previous year. At that, exports increased by 45% -177 million US, imports increased by 15% and constituted 474 million USD.