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Italy-Georgia: new commercial trade record: +72,9%

Italy and Georgia have set a new commercial trade record: according to ISTAT, annual growth in the first 10 months of 2011 was up 72.9%, surpassing €183 million, a new high for the January-October period.

Italian exports to Georgia went up by 19.8% to €108.8 million, and were led by the sector of machinery and mechanical equipment (one-fourth of total); other main sectors included petroleum, and bituminous minerals and furniture.

The Georgian State Statistics Bureaurecorded a similar trend: in 2011 commercial trade between Italy and Georgia peaked at $260,3 million, an increase of 62.8%, which was much higher than the 35.5% overall increase in Georgia’s commercial trade relations in 2011.