In January-July 2022, revenues from the Georgian gold export amounted to 49.9 million US dollars, which is almost 36% more than last year's figure of 36.8 million US dollars.
The largest trade partners of Georgia are:
Switzerland – with the revenue of $46.666 million;
Germany - with the revenue of $2.631 million;
Turkey - with the revenue of $1.156 million;
The United Arab Emirates - with the revenue of $447.56 thousand.
To be informed, after Russia's invasion of Ukraine, at the beginning of March, the price of gold in the foreign exchange market began to rise sharply and even exceeded 2,000 US dollars, but since then the value has been decreasing and today the price is equal to 1,712 US dollars.
The price drop in the foreign exchange market makes gold and other precious metals cheaper in Georgia as well. The main reason for the price decrease is the tightening of the monetary policy by the US Federal Reserve and the European Central Bank, which increases the risk of recession and, accordingly, reduces the demand for gold.
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