Georgia has recorded a significant surge in exports and foreign trade in 2024, with May marking a particularly strong month, according to Vakhtang Tsintsadze, Deputy Minister of Economy and Sustainable Development.

“In May of this year, we observed an approximately 15.9% increase in exports, reaching a volume of USD 580.9 million,” said Tsintsadze, highlighting that this represents a record export figure for the month of May.

From January to May, exports totaled USD 2,595.3 million—an increase of 14.6% compared to the same period last year. Tsintsadze noted that this five-month performance also represents a historic high for Georgian exports.

Foreign trade turnover from January to May reached over USD 9.7 billion, up 13.3% year-on-year. In May alone, trade turnover amounted to USD 1,922.6 million, reflecting a modest 0.4% annual growth. The trade balance showed signs of improvement as well, with the trade deficit narrowing by USD 151.7 million to USD 760.8 million.

For the full year of 2024 so far, Georgia has maintained strong momentum, with exports rising by 7.8% to USD 6.6 billion, and total trade turnover increasing by 8.6% to USD 23.5 billion.

“The positive trend and dynamic growth in exports and trade turnover are sustained in the first five months of this year,” Tsintsadze emphasized. He added that continued economic activity is expected to support Georgian product exports, contributing to job creation and driving robust economic growth throughout the year.