Georgia-Latvia trade turnover increased by 46.7%

12/09/2022

20:17

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The First Deputy Minister of Agriculture of Georgia Giorgi Khanishvili, as part of his visit to the capital of the Republic of Latvia, met with the Minister of Agriculture of Latvia, Kaspars Gerhards. As the Ministry of Environmental Protection and Agriculture of Georgia reported, Giorgi Khanishvili also spoke about the potential of export and import with the Republic of Latvia and emphasized the importance of the positive trend of the last year and the growing data of the current year. He noted that “Georgia and Latvia have more opportunities in terms of trade relations.”

According to the data published by the Georgian National Statistics Office (GEOSTAT), in January-July 2022, the trade turnover between Georgia and Latvia amounted to $26.9 million. This indicator exceeds the figure of the same period of last year by 22.8%, the turnover of 7 months of 2020 - by 46.7%, and the indicator of 2019 - by 17.8%.

Accordingly, after 2019, under the conditions of the pandemic, the reduced trade turnover between the countries is characterized by an increasing trend today. Export occupies a small part in trade turnover. Consequently, the country received $7 million from the sale of various types of goods in Latvia. This amount is 14.3% more than the one observed in the same reporting period last year. The share of imports in trade between the countries is 73.9% and it was equal to $19.9 million within 7 months of this year. This indicator exceeds the figure of the same period last year by 26.1%.

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