High economic activity is continuing in the country, especially in the export sector, which experienced a 30% year-on-year growth in July. Such a statement made today Vakhtang Tsintsadze, the Deputy Minister of Economy.

“The exports reached USD 682 million last month while the external trade turnover totalled USD 2.10 billion, reflecting a 13.6% year-on-year increase - the record external trade turnover for January-July as well, surpassing 12.5 billion.

This growth is a result of the Government’s consistent economic policies aimed at improving the investment climate and promoting production, as well as free trade agreements with multiple countries.

We have signed free trade agreements with a number of countries and this process continues successfully. All of the above, of course, once again confirms that the country continues to have a fairly high economic activity, which is reflected in the macroeconomic parameters and also in the growth of the income of each citizen.

The trade balance also showed significant improvement, mainly due to higher export growth compared to imports. The trade deficit amounted to USD 737.8 million in July, showing an increase by USD 59.9 million from the same month of 2023”, - said Vakhtang Tsintsadze.