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Georgia foreign trade slumps in first 7 months of 2015

Xinhua, August 14, 2015 Adjust font size:

Georgia's exports and imports have experienced a notable downward trend year-on-year in the first seven months of 2015, the nation's statistics office Geostat said Friday.

During the January-July period, the country's external trade amounted to 5,573 million U.S. dollars, a drop of 14 percent compared to the same period last year, according to data released by Geostat.

During the same period, the value of exports reached 1,269 million dollars, down 24 percent year-on-year, while imports amounted to 4,305 million dollars, down 11 percent, the data showed.

The trade deficit in the first seven months hit 3,036 million dollars, accounting for 54 percent of the total trade turnover, Geostat said.

Experts said the sharp decline in trade, especially the contraction of exports, was an alarming signal of the nation's poor economic performance so far this year. Endi