Page 26 - GEORptSep22

Georgian exports reach monthly record in July
Georgia’s exports went up by 25% y/y in June
Georgia’s foreign trade up 35.4% y/y
Month
Export
Import
Turnover
Balance
January
331.3
800.8
1132.2
-469.5
February
429
1018.7
1447.7
-589.6
March
411.4
925.6
1337
-514.2
April
415.7
957
1372.7
-541.3
May
504.4
1119.3
1623.7
-614.9
Year
2091.9
4821.4
6913.3
-2729.5
Georgia exported a record $540mn worth of goods in July, marking a 40% y/y increase, Prime Minister Irakli Garibashvili announced.
On August 15, during a cabinet meeting, the PM referenced the Georgian external trade turnover that amounted to $10.18bn between January-July 2022, making a 35.3% y/y increase.
The value of exports rose by 36.3% during the first seven months of the year to $3.09bn. Imports also grew by 34.8% y/y, amounting to $7.08bn.
The trade deficit reached $3.98bn, while the share of trade turnover hit above 39%.
Georgia exported $439mn of goods in June, marking a y/y 25% increase compared to the same time in 2021, according to Geostat. Imports grew by 21% y/y and reached $1.05bn in June.
The trade deficit consequently widened by 19% y/y to $609mn in the month.
In Q2, Georgia’s exports, dominated by copper ores and concentrates and ferro-alloys, increased by 29% y/y to $1.38bn - after a stronger annual growth rate of 43% y/y in Q1.
The traditional categories of exports, which performed well in January-May and posted annual growth rates of 42% and 98% respectively, Higher commodity prices have pushed up Georgia’s imports as well.
The robust local currency, which is slightly strengthening versus the US dollar, is conductive to local demand and apparently hasn’t impacted the main categories of exports.
Thus, Georgia’s imports in the second quarter of the year rose by 31% y/y to $3.14bn.
Georgia's foreign trade turnover amounted to $8.5bn in 5M22, marking a 35.4% y/y expansion, according to the Georgian National Statistics Office (Geostat). Exports increased by 35.6% y/y to $2.5bn, while imports grew 35.3%, reaching $5.9bn. The trade deficit was thus $3.3bn, making up 39.6% of trade turnover.
Preliminary data - Georgia's foreign trade in 2022 (million USD)
26 GEORGIA Country Report September 2022 www.intellinews.com