Georgia registers rapid growth in exports in first three quarters

0 Comment(s)Print E-mail Xinhua, October 13, 2017
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TBILISI, Oct. 13 (Xinhua) -- Georgia registered a 28.3 percent increase year-on-year in exports in the first three quarters, the country's National Statistics Office said Friday.

The office said in a report that the value of Georgia's exports increased by 28.3 percent to 1.94 billion U.S. dollars, while imports also increased 7.4 percent to 5.63 billion dollars during January-September this year, compared to the same period of last year.

The total external trade value in the first nine months grew by 12.1 percent and reached 7.57 billion dollars, a new high in recent years.

According to Georgian Deputy Economy Minister Genadi Arveladze, ferroalloys and wine exports constitute the major portion of this increase, with a year-on-year growth rate of 97 percent and 56 percent, respectively.

Previous statistics showed that the country's economy increased 4.9 percent during the first half of this year, much faster than expected.

Experts attributed the rapid economic development largely to the boom of exports during the period.

Earlier this week, Georgian Prime Minister Giorgi Kvirikashvili said that as indicated by the upbeat exports performance, Georgia has successfully overcome the regional economic crisis and will see a higher economic growth than planned by the end of this year. Enditem

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