08.Jun .2020 18:48

Car re-exports fell by 87% in April, the sector is at a 10-year low

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The cost of re-exported cars from Georgia in April amounted to 6.9 million USD, - the figure is at a 10-year low. Consequently, due to the COVID-19 crisis, revenues in this sector have declined to a minimum since 2009.

In 2019, re-export rate of cars reached a record high of 686.7 million USD after 2014. The main market for re-exports was Azerbaijan.

In January-March 2020, re-exports amounted to 127 million USD (an average of 42 million USD per month). In April, due to limited economic activity, revenues have dropped in this sector as well.

Decline of re-export by countries:

● Azerbaijan - $ 5.8 million, down 72% from the previous year;
● Ukraine - $ 251 thousand, a decrease of 95.5% compared to the previous year;
● Russia - $ 242 thousand, a decrease of 65% from the previous year;
● Armenia - $ 87 thousand, 99% decrease compared to the previous year.