Georgia Balance of Trade

Last Release

Dec 31, 2024

Actual

-789.6

Units In

USD Million

-890.3

Frequency

Monthly

Next Release

Jan 15, 2025

Time to Release

1 Months 0 Days 6 Hours

Highest	Lowest	Average	Date Range	Source
-6.34 Apr 1995	-956.5 Apr 2024	-305.84 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. .

Latest Updates

Georgia's trade deficit increased to USD 890.3 million in November 2024 from USD 814.8 million in the same month last year, a preliminary estimate showed. Exports increased by 12.6% year-on-year to USD 542.6 million, while imports rose by 10.5% to USD 1,432.8 million. Considering the January-November period, the country's trade gap widened to USD 9,087.3 million from USD 8,662.7 million in the corresponding period a year ago.