On March 19, the National Statistics Service of Georgia (Geostat) released data indicating a 4.8% decrease in Georgia’s foreign trade during January-February 2024 compared to the same period in 2023, with a total value of $2.950 billion.

During this period, Georgia experienced a 12.2% decline in exports to $803.3 million, while imports decreased by 1.6% to $2.15 billion. Consequently, the country's negative trade balance stood at $1.34 billion, constituting 45.5% of its foreign trade turnover.

Turkey emerged as Georgia's primary trade partner, with a trade volume of $472 million. It was followed by Russia with $411 million, China with $228 million, Azerbaijan with $207 million, and the United States with $177 million.

In terms of exports, Kyrgyzstan ranked as Georgia’s top trade partner with $126 million, trailed by Azerbaijan with $100 million, Russia with $97 million, Kazakhstan with $85 million, and Armenia with $79 million.

Georgia’s leading trading partners for imports were Turkey with $408 million, Russia with $314 million, China with $174 million, the United States with $171 million, and Germany with $119 million.

The major commodity groups in Georgia’s exports included motor cars ($263 million), wine of fresh grapes ($48 million), ferroalloys ($42 million), spirituous beverages ($35 million), and precious metal ores and concentrates ($34 million).

On the other hand, imports were dominated by motor cars ($258 million), petroleum and petroleum oils ($187 million), petroleum gases and other gaseous hydrocarbons ($127 million), medicaments put up in measured doses ($103 million), and telephone sets and apparatus for transmission or reception ($59 million), among others.