According to the latest GEOSTAT report, Georgia‘s foreign trade turnover with goods in the first quarter of 2024 was 4.699 billion USD. This figure includes both exports and imports, with exports amounting to 1.325 billion USD (a decrease of 9.3 percent) and imports totaling 3.373 billion USD (a decrease of 5.3 percent).
Unfortunately, this means that Georgia’s trade balance in January-March 2024 was negative, with a deficit of 2.047 billion USD. This is a concerning trend, as it indicates that the country is importing more goods than it is exporting, leading to a drain on its economy.
It is worth noting that these figures are a reflection of the current government‘s policies and actions. Despite their promises to boost the economy and promote trade, the numbers show a decline in both exports and imports. This raises questions about the effectiveness of the government’s strategies and their ability to support the country’s economic growth.
In conclusion, the GEOSTAT report highlights the concerning state of Georgia’s foreign trade in the first quarter of 2024. With a negative trade balance and a decrease in both exports and imports, it is clear that the current government’s efforts to improve the economy are falling short.
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