According to the data published by the National Statistics Office of Georgia (GEOSTAT), in October 2024, the annual growth of exports of goods accelerated to 39.0% and amounted to 681.7 million US dollars. In the previous month, a 17.0% annual increase in the export of goods was recorded. In addition, in October, imports increased by 5.8% to 1.4 billion US dollars. In the previous month, a 0.3% decrease in annual imports was recorded. As a result, the trade deficit decreased to 758.8 million US dollars in October, which implies a 12.8% decrease, annually.

In October 2024, cars (+21.3% y/y), ferroalloys (+25.9x y/y), alcohol (+40.8% y/y), precious metals (+19.7x y/y) and wine (-5.2% y/y) /y) were the top 5 exported goods. In addition, 9.7% of the goods was exported to the EU (+41.3% y/y), 62.8% - to the CIS (+19.2% y/y) and 27.4% - to other countries (+122.2% y/y).
In October 2024, the top 5 imports were cars (-11.1% y/y), oil (-3.6% y/y), medicines (-5.4% y/y), telephones (+7.0% y/y) and gas (- 6.1% y/y).

Overall, in January-October 2024, the trade deficit widened by 3.1% year-on-year to $8.1 billion as exports increased by 7.4% to $5.5 billion and imports increased by 4.8% to $13.6 billion.