Imports in Georgia amounted to 757.7 million USD in November 2017, which is 17% higher compared to the same period of last year, the National Statistics Office of Georgia (Geostat) reveals according to published data of Georgia’s imports and exports.
The negative trade gap (difference between imports and exports) amounted to 521 million USD in November 2017, which is 21% more compared to the same period of 2016. One of the reasons for the depreciation of the national currency the Lari in November could be the trade deficit (aka negative trade gap), however there are other important factors affecting the exchange rate of the national currency, including investments, tourism, and remittances.
In the first 11 months of 2017, exports amounted to 2.4 billion USD (27% higher y/y), whereas imports were 7.1 billion USD (8.8% higher y/y). The negative trade gap in January-November of 2017 was 4.7 billion USD, which is 49% of trade circulation.
More detailed information about Georgia’s exports/imports, including information about price hikes on specific goods, will be published by Geostat on December 19.
The chart below shows Georgia’s import and export statistics up til 2016: