“In May of this year, we observed an approximately 15.9% increase in exports, reaching a volume of USD 580.9 million,” noted Vakhtang Tsintsadze, Deputy Minister of Economy and Sustainable Development of Georgia.
The Deputy Minister emphasized that this marks a record export volume for May.
Additionally, from January to May, exports grew by 14.6%, totalling USD 2,595.3 million.
“A record export figure was recorded for this period. The foreign trade turnover also hit a new high, increasing by approximately 13.3% compared to the same period last year and surpassing USD 9.7 billion,” Tsintsadze added.
Regarding May alone, the trade turnover was valued at USD 1,922.6 million, which is 0.4% higher year-on-year. The trade balance also improved, with the trade deficit decreasing by USD 151.7 million to USD 760.8 million.
For 2024, Georgia continued its growth trajectory, recording a record volume of exports and trade turnover; exports increased by 7.8%, reaching USD 6.6 billion, while overall trade turnover grew by 8.6%, totalling USD 23.5 billion.
Tsintsadze expressed optimism, stating, “The positive trend and dynamic growth in exports and trade turnover are sustained in the first five months of this year.”
“We anticipate that ongoing economic activity, which supports the export of Georgian products, will persist in the coming months, positively impacting job creation and driving high economic growth throughout the year,” Tsintsadze concluded.
