The first half of 2018 produced some interesting figures regarding Georgia’s external trade. Even though the existing data is only preliminary, the analysis thereof unveils some curious results, PMC Research Center reports.
Georgia’s exports and imports reached their highest point for the observed period of 2015-2018. In the first half of 2018, Georgia was recorded to have conduced external trade with 133 countries, a record-breaking amount in the observed period.
With free trade agreements already in place with China and the EU, we have been able to conduct a rough analysis of the effects of the two agreements so far. To analyze these effects, the observed period is taken from January 2015 to June 2018.
In the first half of 2018, Georgian exports amounted to US$1.59 bln, which is 28.5% higher than the amount of exports recorded in the corresponding period of 2017. Similarly, for the first half of 2018, Georgian imports amounted to US$4.39 bln, a 22.9% rise compared to the first half of 2017.
Interestingly, in the first half of 2018, both, the exports as well as imports, are the highest throughout the observed period of 2015-2018. Looking at half-year periods, with the first being January-June 2015, the first half of 2018 saw exports reach their highest recorded share of Georgia’s external trade turnover at 26.6%.
The second half of 2016 can be viewed as a turning point for the growth rates of Georgian exports and imports. From this point on, Georgian exports have recorded a higher growth rate than Georgian imports. Meanwhile, since the first half of 2015, both Georgian exports as well as Georgian imports have shown a positive growth rate and this trend continues.
Read the analysis HERE