In 2M2024, trade turnover between Germany and Georgia decreased by 15.2% amounting to USD 128.3 million, while in the same reporting period of 2023, it stood at USD 151.4 million.
USD 119.4 million accounted for imports out of USD 128.3 million, while exports made up USD 8.9 million.
TOP-5 Importing Products In 2024:
1. Light vehicles - $31.1 million;
2. Packaged medicines - $13.9 million;
3. Trucks - $6.7 million;
4. Tractors - $3.1 million;
5. Coptone and other solid residues obtained during the extraction of soybean oil - $2.7 million.
TOP-5 Exporting Products in 2024:
1. Pipes, tubes and hollow profiles, seamless, of black metal - $1.3 million;
2. Nuts and other nuts - $1.02 million;
3. Fruits and other parts of plants, otherwise prepared or preserved - $958.5 thousand;
4. Purely and coarsely ground flour of leguminous vegetables - $902.2 thousand;
5. Fruit and vegetable juices - $720.9 thousand.
FDI
As for the FDI, in recent years, the rate of foreign direct investments from Germany has decreased. In 2023, the investment made up USD 21.9 million, which was 34.5% less than the indicator of 2022. Germany's share in total FDI was 1.4%.
Tourism
According to the visits made by international visitors to Georgia, Germany ranks 13th among the TOP-15 countries. In 2023, 68,824 German citizens entered Georgia, which was 41.8% more than the figure of 2022, but 22.7% lower than the figure of 2019 before the pandemic.
Money Transfers
According to the statistics of the National Bank, last year Germany was fifth with USD 228.6 million in remittances.
Last month, USD 18.1 million was transferred from Germany to Georgia, which was a 23.3% increase compared to the same period last year.
