According to a review published by the Ministry of Economy, the volume of cargo transported in the Georgian corridor has increased. As of the document, the total volume of cargo transported in the country in January-April amounted to 12.2 million t, which exceeds by 2.5% comparing to the rate of 2019.
In the first four months of 2020, the cargo turnover of the largest port of Georgia - Poti Port - amounted to 2.7 million t, the figure is unchanged comparing to the previous year. The load of other ports has increased. In total, the number of containers processed in all ports was 185.6 thousand, the increase is 1.8%.
• Poti port - 2.7 million tons, change 0%;
• Kulevi terminal - 0.6 million tons, an increase of 50%;
• Batumi Seaport - 1.1 million tons, an increase of 10%;
• Supsa Marine Terminal - 1.5 million tons, an increase of 25%.
As for the Georgian Railway, the total amount of cargo transported by railway amounts to 3.6 million t, which is 5.8% more comparing to 2019.
Despite the increase in the turnover of the Georgian Railway, the company is still at a significant loss in the first quarter of 2020.
According to the company's financial report for the first quarter, consolidated revenues for the group increased by 23.7% to 122 million GEL in January-March, simultaneously the expenditures of railways increased significantly, leaving the company with a loss of 163.5 million GEL in the first quarter of the year.
As of the financial report of the Georgian Railway, the main source of expenditure growth was the loss received from the difference of the currency exchange rates and it has made up 188.9 million GEL. Consequently, the sum could not be balanced by the operating profit and a loss of $ 163 million has been reflected in the financial results.
