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Georgia Balance of Trade
Last Release
Dec 31, 2024
Actual
-789.6
Units In
USD Million
Previous
-756
Frequency
Monthly
Next Release
Dec 13, 2024
Time to Release
28 Days 7 Hours
Highest | Lowest | Average | Date Range | Source |
-6.34 Apr 1995 | -956.5 Apr 2024 | -304.21 USD Million | 1995-2024 | National Bank of Georgia |
Georgia's increasing trade deficits are a by-product of Russia's trade embargo. Georgia has failed to diversify its exports and relies heavily on agriculture and low value added resource exploration. Georgia's main imports are oil, motor cars, pharmaceutical products, wheat and meslin, sugar and electrical equipment. Georgia's main trading partners are Turkey, Azerbaijan, Ukraine, Germany, Russia, the United States and Bulgaria.
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Latest Updates
Georgia's trade deficit narrowed to USD 756 million in October 2024 from USD 870.5 million in the same month last year, a preliminary estimate showed. Exports surged by 39% year-on-year to USD 681.7 million, while imports rose by 5.6% to USD 1,437.7 million. Considering the January-October period, the country's trade gap widened to USD 8,085.6 million from USD 7,847.9 million in the corresponding period a year ago.
Georgia Balance of Trade History
Last 12 readings