TBILISI, Jan. 14 (Xinhua) -- Georgia's foreign trade turnover amounted to 12.8 billion U.S. dollars in 2019, a 2.7-percent year-on-year increase, the country's state statistics office said on Tuesday.
Data show that the total value of exports increased by 12.4 percent to 3.77 billion dollars while imports shrunk by 0.8 percent to 9.06 billion dollars in the year.
The data also show that the country's trade deficit remains high, which stood at 5.29 billion dollars, or 41.2 percent of total trade turnover.
Neighboring Russia, Azerbaijan and Armenia continue to be the top three markets for Georgian exports while Turkey, Russia and China remain its major importing partners.
Local analysts said that the rapid growth of exports continued to be a major factor in the country's economic development in 2019. They forecasted economic growth at a rate of 4 percent in 2020.