Daily News May 3, 2022	Days:  29 02 03 04 05

economics

AS OF MARCH 31, LARI SUPPLY REDUCED BY 1.7% Y-O-Y

National Bank of Georgia reported that as of March 31, volume of national currency supply made up 4.9 billion lari.

If compared with December 2021 (i.e. quarter-on-quarter), the volume has decreased by 4.3% (by 197.35 million lari).




AS OF APRIL 1, RATIO OF DEPOSITS TO GDP DECREASED Y-O-Y BY 14.1 PP, LOANS – BY 10 PP

National Bank of Georgia reported that as of April 1, ratio of deposits, placed in Georgian commercial banks, to the country’s GDP made up 58.8%.

If compared with January 1 (61.7%), the ratio has decreased by 2.9 percentage points (pp).




IN Q1, 10 LARGEST TRADE PARTNERS ACCOUNTED FOR 65.1% OF GEORGIA’S IMPORT

Sakstat released estimation, according to which combined share of Georgia’s 10 largest trade partners in the country’s total import for the 1^st quarter ($2.69 billion) made up 65.1%, or $1.75 billion. In the same period of 2021, the top 10’s share made up 70%.




IN Q1, 10 LARGEST TRADE PARTNERS ACCOUNTED FOR 77.2% OF GEORGIA’S EXPORT

Sakstat released estimation, according to which combined share of Georgia’s 10 largest trade partners in the country’s total export for the 1^st quarter ($1.17 billion) made up 77.2%, or $904.9 million. In the 1^st quarter of 2021, the top 10’s share made up 75.4%.




IN Q1, GEORGIA’S EXPORT TO TURKEY INCREASED BY 31.2% Y-O-Y, IMPORT FROM TURKEY – BY 25.6%

Sakstat released estimation, according to which in the 1^st quarter, Turkey was Georgia’s largest trade partner, accounting for 14.6% of the country’s total foreign turnover, i.e. for $562.4 million.

Namely, Georgia’s export to Turkey amounted to $99.23 million (year-on-year growth – 31.2%).




IN Q1, GEORGIA’S EXPORT TO CHINA INCREASED Y-O-Y 2 TIMES, IMPORT FROM CHINA – BY 31.9%

Sakstat released estimation, according to which in the 1^st quarter, China was Georgia’s second largest trade partner, accounting for 12% of the country’s total foreign turnover, i.e. for $461.9 million.

Namely, Georgia’s export to China amounted to $220.03 million (year-on-year growth – 2 times).




IN Q1, GEORGIA’S EXPORT TO RUSSIA INCREASED Y-O-Y BY 2.8%, IMPORT FROM RUSSIA – BY 23.7%

Sakstat released estimation, according to which in the 1^st quarter, Russia was Georgia’s third largest trade partner, accounting for 9.9% of the country’s total foreign turnover, i.e. for $383.39 million.

Namely, Georgia’s export to Russia amounted to $109.84 million (year-on-year growth – 2.8%).




CZECH-GEORGIAN INTERGOVERNMENTAL COMMISSION HELD A MEETING

The 6^th meeting of the Czech-Georgian intergovernmental commission on economic cooperation was held today as part of the visit of the Czech delegation to Georgia, reported Georgian Ministry of Economy and Sustainable Development.

Within the visit, a business forum will also be held.