Georgian external trade up 20.1% in January-June 2023

Georgian external trade turnover amounted to $10.26 billion in January-June 2023, posting a 20.1 percent increase year-on-year, the Georgian National Statistics Office revealed on Thursday, Azernews reports, citing Agenda.

The value of exports rose by 19.2 percent and equalled $3.05 billion, while imports also grew by 20.4 percent, amounting to $7.21 billion in the first six months of 2023.

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Trade deficit, a measure of the negative balance of trade in which imports exceed exports, reached $4.16 billion, and the share of trade turnover hit 40.6 percent.

Deputy Economy Minister Vakhtang Tsintsadze said the country’s foreign trade turnover had reached a “record level”, with exports also marking a “record-high” growth in the first half of the year.

Tsintsadze said export promotion and diversification, as well as development of local production, was the “main priority” for the Government.

He said a “number of state programmes” were being implemented to increase competitiveness of local entrepreneurs with “significant tangible results” that were “confirmed by statistical indicators".