Export Volume hit Record-High Indicator in January - 10% Increase
Export volume hit a record-high indicator in January 2020 with 262.6 MLN USD (i.e. 10% increase compared to the respective period of the past year). Export volumes have never been so high in January of any previous year before;
Export as net of re-export (export of domestically produced commodities) constitutes to 67.4% of total export. Referred indicator exceeds January of the previous year by 12.4% and equals 177.1 MLN USD;
It is worth noting that share of domestic commodity export in the total agriculture produce exported from the country is 80.4%, which is increased by 5% in contrast with January of the previous year.
Foreign Trade Volumes in January 2020 amounted 882.5 MLN USD, which is by 5.7% higher than the respective period of the previous year. Import increased by 4.0% in January of the previous year, while export grew by 10.0%. Trade deficit has been improved by 0.2 MLN USD and amounted 357.2 MLN USD;
Share of alcoholic beverages increased most of all among the exported commodities in January 2020 (by 22.9%), along with gold (by 25.9%), copper ore and concentrates (by 16.1%), precious metal ores (not exported in the previous year), nitrogen fertilizers (by 31.5%);
Also, export of hazelnut, spices, citrus and plum have been increased respectively by 31.3%, 93.4%, 83.1% and 207%.We wish to remind you that total export volume for 2019 has also been record-high, thus reaching 3 765.4 MLN USD (12.2% higher than in 2018).
Export volume of commodities from Georgia to EU was also record-high.
Import declined by 0.8% in 2019, while trade deficit - by 480.7 MLN USD.