Exports grew by 40% in 2010, to US$1.58bn, aided by a surge in external demand for Georgian goods in the final quarter. This compares with a 24% contraction in 2009. The return to export growth in 2010 was buoyed by robust external demand for Georgian products, particularly ferro-alloys, as the ongoing global recovery, following the global recession in 2009, continued. Despite the substantial increase, imports continued to dwarf exports, although imports grew more slowly. According to data from the National Statistics Office, imports totalled US$5.1bn, a rise of 17%, compared with a 31% contraction in 2009. The trade deficit expanded to US$3.51bn from US$3.23bn in 2009. The relative gap between exports and imports narrowed, as coverage of the import base by exports increased to 31.1% in 2010 from 26% in 2009.

Download the numbers in Excel