“The increase by 73.5 per cent of domestic exports was observed in January-April, with the volume exceeding USD 1 billion and 550 million, which indicates that local production is developing and products are competitive in the international market,” said Vakhtang Tsintsadze, Deputy Minister of Economy and Sustainable Development.

According to Tsintsadze, positive dynamics in foreign trade continue. In January-April, exports increased by 21.1% and reached a record figure of USD 2,439.9 million, while in April, exports increased by 16.1% and also reached a record monthly volume of USD 716.3 million.

“Our goal is to support the development of local production in the country. The Georgian government takes steps to boost the competitiveness of the local production. All this creates added value in the country, new jobs, which positively impact the economic development of the country,” he said.

The Ministry of Economy noted that the trade balance also improved in April – the trade deficit amounted to USD 765.5 million, an improvement of USD 143.0 million compared to April of the previous year.

As for export markets, in the January-April period, the largest share was held by EU countries, followed by Kyrgyzstan and China in second and third place.

“We will continue to support local production with more effective mechanisms that will contribute to the high economic growth and welfare of the population,” Tsintsadze concluded.