"Positive trends" - new foreign trade data assessed in Georgia

2021/11/6786--1637050581.jpg
Read: 778     14:00     16 Ноябрь 2021    

The volume of exports from the country exceeded the indicators of the pre-pandemic period, the minister said.
Georgia's foreign trade turnover in January-October 2021 increased by 23% compared to the same period last year and amounted to $ 11,352.3 million (excluding unorganized trade), the National Statistics Service of the country "Sakstat" said in a statement.
During the reporting period, the country imported products worth $7,959.8 million, which is 22.3% more than the data for January-October 2020.
Exports amounted to $3,392.4 million. This is 24.9% more than in January-October 2020 and 11% more than in the period before the pandemic - in 2019.
Georgia's negative trade balance since the beginning of 2021 amounted to $4,567.4 million, which is 22.5% more than the same indicator for the first ten months of 2020.
Minister of Economy and Sustainable Development of Georgia Natia Turnava said that the volume of exports from the country exceeded the indicators of the pre-pandemic period.
"In October, exports increased by 31.4%, which is quite a big increase compared to October 2020. Although, if we compare with October 2019, with the pre-pandemic period, there is also an increase of almost 29%," Turnava told reporters.
She drew attention to the fact that more importantly, a trend was recorded in October, according to which the growth rate of exports exceeds the growth rate of imports.
"If exports increased by 31.4%, then imports grew by only 24%. Export growth is the main factor of economic growth, and we have no doubt that this year will end with double-digit economic growth," the minister said.
Turnava stressed that double-digit economic growth does not mean solving all problems, but it is a good basis for fighting poverty and creating more jobs through government programs.
To develop the Georgian economy and stimulate local production, the authorities have expanded the state program "Produce in Georgia". Four components have been added to it, one of which is the Business Export program. This program is aimed at increasing the country's export potential and supporting entrepreneurship in Georgia by expanding and re-equipping enterprises, as well as replacing imported goods with local ones.
Under the new initiative, the state will provide enterprises with a grant co-financing of the project in the amount of 15% (no more than 500 thousand lari) to banks, while no more than 60% of the principal amount of the loan will be guaranteed for a maximum period of 10 years.

Sputnik-georgia.ru





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"Positive trends" - new foreign trade data assessed in Georgia

2021/11/6786--1637050581.jpg
Read: 779     14:00     16 Ноябрь 2021    

The volume of exports from the country exceeded the indicators of the pre-pandemic period, the minister said.
Georgia's foreign trade turnover in January-October 2021 increased by 23% compared to the same period last year and amounted to $ 11,352.3 million (excluding unorganized trade), the National Statistics Service of the country "Sakstat" said in a statement.
During the reporting period, the country imported products worth $7,959.8 million, which is 22.3% more than the data for January-October 2020.
Exports amounted to $3,392.4 million. This is 24.9% more than in January-October 2020 and 11% more than in the period before the pandemic - in 2019.
Georgia's negative trade balance since the beginning of 2021 amounted to $4,567.4 million, which is 22.5% more than the same indicator for the first ten months of 2020.
Minister of Economy and Sustainable Development of Georgia Natia Turnava said that the volume of exports from the country exceeded the indicators of the pre-pandemic period.
"In October, exports increased by 31.4%, which is quite a big increase compared to October 2020. Although, if we compare with October 2019, with the pre-pandemic period, there is also an increase of almost 29%," Turnava told reporters.
She drew attention to the fact that more importantly, a trend was recorded in October, according to which the growth rate of exports exceeds the growth rate of imports.
"If exports increased by 31.4%, then imports grew by only 24%. Export growth is the main factor of economic growth, and we have no doubt that this year will end with double-digit economic growth," the minister said.
Turnava stressed that double-digit economic growth does not mean solving all problems, but it is a good basis for fighting poverty and creating more jobs through government programs.
To develop the Georgian economy and stimulate local production, the authorities have expanded the state program "Produce in Georgia". Four components have been added to it, one of which is the Business Export program. This program is aimed at increasing the country's export potential and supporting entrepreneurship in Georgia by expanding and re-equipping enterprises, as well as replacing imported goods with local ones.
Under the new initiative, the state will provide enterprises with a grant co-financing of the project in the amount of 15% (no more than 500 thousand lari) to banks, while no more than 60% of the principal amount of the loan will be guaranteed for a maximum period of 10 years.

Sputnik-georgia.ru





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