Exports from Georgia continue to grow: what the authorities predict

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Exports from Georgia continue to grow: what the authorities predict

Exports from Georgia continue to grow: what the authorities predict

In the first eight months of 2021, exports from Georgia increased by 25.7% compared to the same period last year 09/15/2021, Sputnik Georgia

2021-09-15T09:01+0400

2021-09-15T09:01+0400

2021-09-15T09:01+0400

Georgia

trade

Ministry of Economy and Sustainable Development of Georgia

natia turnava

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TBILISI, 15 Sep – Sputnik. Foreign trade turnover in January-August 2021 increased by 22.2% compared to the same period last year and amounted to $ 8,678.3 million (excluding unorganized trade), according to the National Statistics Service of the country “Sakstat”. period, the country imported products worth $ 6,072.9 million, which is 20.7% more compared to January-August 2020. Georgian products in January-August 2021 were exported in the amount of $ 2,605.5 million, which is 25 , 7% more compared to the same period in 2020. Georgia’s negative trade balance since the beginning of 2021 amounted to $ 3,467.4 million, which represents 40% of the total foreign trade turnover. , the positive trend of economic growth continues. The export indicator recorded in August was 14.6% higher than the data recorded for the same period in 2020, and by 6% the figures before the pandemic – in August 2019. According to the minister, the chances of ending 2021 with double-digit economic growth are great. “As you know, we often compare this year’s statistics with 2019, which was pre-pandemic and successful. And so, this year, our exports in the first eight months compared to the corresponding period of 2019 also increased by 7.2%. This means that the economic recovery continues again, export growth is directly reflected in GDP, that is, in economic growth. This incentive is still very strong and we continue to argue that we have very good chances for double-digit economic growth this year, “Turnava said. To develop the Georgian economy and stimulate local production, the authorities expanded the Produce in Georgia state program. It added four components, one of which is the “Business Export” program, which aims to increase the country’s export potential and support entrepreneurship in Georgia by expanding and re-equipping enterprises, as well as replacing imported goods with local ones. banks grant co-financing of the project in the amount of 15% (no more than 500 thousand lari), while no more than 60% of the loan principal will be guaranteed for a maximum period of 10 years. Subscribe to video news from Georgia on our YouTube channel.

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georgia, trade, ministry of economy and sustainable development of georgia, natia turnava

In the first eight months of 2021, exports from Georgia increased by 25.7% compared to the same period last year

TBILISI, September 15 – Sputnik… Foreign trade turnover in January-August 2021 increased by 22.2% compared to the same period last year and amounted to $ 8,678.3 million (excluding unorganized trade), according to the National Statistics Service of the country “Sakstat”.

During the reporting period, the country imported products worth $ 6,072.9 million, which is 20.7% more compared to January-August 2020.

Georgian products in January-August 2021 were exported in the amount of $ 2,605.5 million, which is 25.7% more compared to the same period in 2020.

Georgia’s negative trade balance since the beginning of 2021 amounted to $ 3,467.4 million, which represents 40% of the total foreign trade turnover.

What do the authorities think

According to Minister of Economy and Sustainable Development Natia Turnava, the positive trend of economic growth continues.

“As for foreign trade, again a very positive trend … The geography expanded, the area expanded. Accordingly, in January-August, exports from Georgia increased at a very good pace compared to the previous year – 25.7%,” Turnava said.

The export indicator recorded in August was 14.6% higher than the data recorded for the same period in 2020, and 6% higher than before the pandemic in August 2019.

According to the minister, the chances of completion of 2021 with double-digit economic growth are great.

“As you know, we often compare this year’s statistics with 2019, which was pre-pandemic and successful. And so, this year, our exports in the first eight months compared to the corresponding period of 2019 also increased by 7.2%. that economic recovery continues again, export growth is directly reflected in GDP, that is, economic growth. This stimulus is still very strong and we continue to argue that we have very good chances for double-digit economic growth this year, “- said Turnava …

Georgia and Uruguay ready to negotiate free trade

To develop the Georgian economy and stimulate local production, the authorities expanded the “Produce in Georgia” state program. 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 in front of banks with grant co-financing of the project in the amount of 15% (no more than GEL 500 thousand), while no more than 60% of the loan principal will be guaranteed for a maximum period of 10 years.

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