Minister of Economy and Sustainable Development Natia Turnava assessed preliminary data on the foreign trade turnover published by Geostat. She noted that high growth rates in the exports of domestic products indicate that the country's economy will grow at a similar pace.
The Minister of Economy noted that the level of exports is maintained at 2019 levels.
"In May 2021, the foreign trade rate has significantly improved, in particular, we have almost 45% increase in exports. Exports reached $ 340 million in May. As 2020 was a very difficult year to summarize the progress, we compared it to 2019. Therefore, exports are almost at the same level compared to May 2019 and have not decreased. 2019 was a record year in terms of exports in the last 10 years, and in May 2021, when the pandemic is still raging, we have exports of our manufactured products at the same level. The increase totals to 45% this May compared to May 2020. We note this because each such data gives us hope that the economic growth that has been observed so far will continue, and we expect that economic growth will be at least 6.5% -6.7% late this year," the minister said.
According to preliminary data, in January-May, Georgia's foreign trade turnover increased by 18.2% and amounted to 5 billion dollars.
According to official statistics released by Geostat today, Georgia earned $ 1.5 billion in export earnings, which is 24.4% more than in the same period last year. As for imports, this figure increased by 15.7% to $ 3.5 billion. The negative trade balance in January-May 2021 amounted to 1.9 billion dollars and 38.7% of foreign trade turnover.
See all the news
Novartis Prostate Cancer Drug Receives U.S. FDA Breakthrough Designation
The Success of 5 Georgian Wines at Sommeliers Choice Awards 2021
სილამაზის ინდუსტრიის გამოწვევები და #AVON-ის ფინანსური მაჩვენებლები
Baia Kvitsiani to Replace Mariam Kvrivishvili In The Parliament
Who Is Vazil Hudak?
PM Appoints Vazil Hudak As A Special Advisor on Attracting FDI
Czech Development Agency Delegation to Visit Georgia
Georgia amends transfer pricing rules for APAs, reduces thresholds
We paid for 100% of shares of Caucasus Online in 2019 - NEQSOL Holding
“Only the courts have the right to determine the legality of the purchase of Caucasus Online", - NEQSOL Holding
Top-10 Major Commodity Groups by Exports – what does Georgia sell abroad?
NBG sold foreign exchange reserves of $ 993 mln in the last 12M
Carrefour Surpassed by Nikora in 2020
"ჯიპიაი" თავის დაზღვეულებს COVID ვაქცინაციას შესთავაზებს / ანალიტიკა - 12.03.2021-13:40 - გადაცემა სრულად
The former president of Frontera is accused by the founder of the company of stealing oil
The lawsuit between the former president of Frontera and the founder of the company
#ADB-ის პერსპექტივა - #ინტერვიუ შეინ როზენტალთან
"Severe punishment and termination of government support awaits you," Gakharia warns businesses
Q&A: TBC Group