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of hazelnuts by 40% y/y to $68.4mn and the exports of mineral water advanced sharply as well. The exports of T-shirts surged by 70% y/y to $48.5mn.
Georgia’s trade gap in October and for the whole 10-month period of the year increased compared to 2020 (+18% y/y and +20% y/y respectively), but it was slightly smaller compared to 2019 (-18% y/y in October alone and -2.2% for the 10-month period). It is unclear whether this was an effect of weaker domestic demand, depressed by the crisis, or a result of the import substitution. Data suggest a combined effect, with the exports making the biggest part of the contribution.
5.1.2 Current account dynamics
Georgia’s foreign trade up 22% in January-September
Georgia’s foreign trade turnover in January-September increased by 22.3% year-on-year, reaching $10.01bn, according to express data published by the National Statistics Office (Geostat) on October 13.
25 GEORGIA Country Report December 2021 www.intellinews.com