Daily News April 23, 2024	Days:  19 22 23 24 25

economics

IN Q1, GEORGIA’S LARGEST TRADE PARTNERS IN TERMS OF EXPORT WERE KYRGYZSTAN, RUSSIA AND KAZAKHSTAN

In January-March, combined share of Georgia’s 10 largest trade partner countries in total export of the country made up 79.3% (against of 80.9% for the same period of 2023), Sakstat reported (estimation).

The top three included Kyrgyzstan, Russia and Kazakhstan (instead of Armenia, Azerbaijan and Russia for the corresponding period of 2023).




IN Q1, GEORGIA’S EXPORT TO TURKEY DECREASED BY 7.4% Y-O-Y, IMPORT FROM TURKEY INCREASED BY 8%

In the 1^st quarter, Georgia’s commodity export to Turkey amounted to $97.17 million, decreasing by 7.4% year-on-year, Sakstat reported (estimation). In Georgia’s total exports, this country accounted for 7.3% (6^th position among Georgia’s trade partners) against of 7.2% for the same period of 2023.




IN Q1, GEORGIA’S EXPORT TO RUSSIA DECREASED BY 9.1% Y-O-Y, IMPORT FROM RUSSIA – BY 6.5%

In the 1^st quarter, Georgia’s commodity export to Russia amounted to $160.77 million, decreasing by 9.1% year-on-year, Sakstat reported (estimation). In Georgia’s total exports, this country accounted for 12.1% (2^nd position among Georgia’s trade partners), maintaining the share unchanged since the same period of 2023.




IN Q1, GEORGIA’S EXPORT TO CHINA DECREASED BY 51.9% Y-O-Y, IMPORT FROM CHINA INCREASED BY 9.6%

In the 1^st quarter, Georgia’s commodity export to China amounted to $64.12 million, decreasing by 51.9% year-on-year, Sakstat reported (estimation). In Georgia’s total exports, this country accounted for 4.8% (7^th position among Georgia’s trade partners) against of 9.1% for the same period in 2023.




IN Q1, RESIDENTIAL PROPERTY PRICE INDEX IN TBILISI INCREASED BY 13% Y-O-Y

In the 1^st quarter, the residential property price index (RPPI) in Tbilisi has increased by 13% compared to the same period of 2023, Sakstat reported. If compared to the 4^th quarter of 2023, RPPI has increased by 1.1%.




GEORGIAN ROADS DEPARTMENT: TUNNEL DRILLING COMPLETED ON KVESHETI-KOBI HIGHWAY

As part of the Kvesheti-Kobi road construction project, drilling of a tunnel connecting the village of Kvesheti with the village of Kobi was completed, Georgian Roads Department reported. The 15-m tunnel with a length of 9 km is the longest in Georgia, the Department noted.




GEORGIAN REVENUE SERVICE: IN Q1, 271 FACTS DETECTED OF STORAGE AND TRANSPORTATION OF TOBACCO PRODUCTS WITHOUT EXCISE MARK

In the 1^st quarter, 271 cases of storage and transportation of tobacco products without excise stamps were detected, Georgian Revenue Service reported.

As the Service specified, overall, 27,527 packs of cigarettes and 160 kg of unpacked tobacco were seized in the mentioned cases.

business

NBG FINED MICROFINANCE ORGANIZATION “BERMELI”

As a result of the audit, the microfinance organization Bermeli was fined with 40,000 lari, National Bank of Georgia (NBG) reported.

According to the NBG, 3 cases of incorrect submission of the requested information/documentation were recorded.