Exports/imports decreased slightly in February compared to January. Last month, products worth USD 455.8 million were exported to the exporting markets. A slight decrease was observed m-o-m, but there was a growth of USD 27 million y-o-y. As for imports, the country purchased 963.6 million worth of products in February, which was a decrease compared to the previous month, as well as y-o-y. External Merchandise Trade of Georgia amounted to USD 2.9 billion in January-February 2023, 12.3% higher year-on-year.
The value of export increased by 20.3%re aching USD 914.7 million, while the import increased by 9% and amounted to USD 1.98 billion. The trade deficit equaled USD 1.68 billion and its share
in trade turnover constituted 36.9%.
Gvantsa Meladze, the chairperson of the board of the "Export Development Association", told the BMGTV, that a slight increase in export figures will start from the end of May.
"February is always a passive month in terms of exports and trade, however, this is the period when especially exporters are working in the direction of agricultural products because from the end of May we are already expecting to harvest various fruits and vegetables.
As for the beverage sector, it is still dependent on the Russian market, especially the alcoholic beverage sector. There is always stocking up for the May holidays and exports are likely to increase here as well. However, this will not have a big impact on macroeconomic indicators, because a large share of local exports is still ferroalloys, various metals, fertilizers, re-exports of cars, so all this will not change the general picture", said Gvantsa Meladze.
