Following the data of the National Bank of Georgia, the external trade deficit reached 440,1 million USD in February 2020, as it grew by 14,8% than in February 2019.
The registered export of the goods decreased by 0,5 annually in February 2020.
The National Bank states that the decrease is a result of reduced exports in Russia (ferroalloys and mineral water).
The exports to Ukraine also decreased, while the rate dropped in Armenia, as cars re-export rate significantly lowered.
At the same time, exports to Azerbaijani increased due to the re-export of cars and mineral fertilizers.
The main export countries in February 2020 were Azerbaijan, Russia, Bulgaria, China, Armenia, Ukraine, and Turkey.
The seven trade partners' share in the total export rate was 69%.
The National Bank says the export is more diversified than it was in previous years.
Bela Gelashvili
News Author