Economy, News

Georgia’s foreign trade up 16% Jan-May ’14

by | Jun 17, 2014
clothes_market

Georgia’s foreign trade continues to grow. (DF Watch.)

TBILISI, DFWatch–Georgia’s foreign trade turnover in the first five months of 2014 was USD 4,498 million.

This is 16 percent more than in the same period last year, according to preliminary figures published on Monday by the Georgian National Statistics Office, Geostat.

According to report, export was USD 1,175 million, 17 percent more than the first five months in 2013, while import was USD 3,322 million, 15 percent more than last year.

The negative trade balance was USD 2,147 million, which is 48 percent of the whole trade turnover.

These figures do not include so-called non-organized trade, which is when someone brings with them goods across the border which doesn’t have to be declared because it is below the limit, USD 170.

In all of 2013, such trade amounted to USD 1,2 billion in export and USD 578 million in imports, according to an estimate by the Georgian National Bank.

GeoStat will publish detailed figures on June 24.



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