Georgia January Trade Deficit Widens

(RTTNews) - Georgia's foreign trade deficit in January widened from a year ago, as exports fell sharply, preliminary figures from the National Statistics Office of Georgia showed Monday.

The merchandise trade deficit increased to $381.6 million in January from $318.9 million in the same month of the previous year.

Exports plunged 30.0 percent year-on-year in January, much worse than December's 20.3 percent decline. In November, exports registered a 34.9 percent slump.

Imports also fell 0.8 percent in January, in contrast to a 5.2 percent increase registered in the preceding month.

Trade with the EU countries rose by 5 percent. Exports to the region surged 35 percent, while imports dropped 5.0 percent.

Turkey, Azerbaijan and China were the top trading partners of the country at the beginning of the year.