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GEORGIA: External trade by 13.5% in the first half of 2017

posted onJuly 26, 2017
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In January-June 2017 external merchandise trade in Georgia amounted to USD 4.8 billion, 13.5 percent higher year-on-year, according to Geostat, the country's National Statistics Office.The exports equaled USD 1.2 billion (30.1 percent higher), while the imports stood at USD 3.5 billion (8.8 percent higher).

Georgia’s total trade turnover with EU countries constituted 1.3 billion USD, up 10.9% year on year. The country exported 294.7 million USD products to EU market, up 30.4% year on year. In the reviewed period, imports totalled 1008.5 million USD, up 6.3% year on year. Ratio of EU countries in Georgia’s total foreign turnover marked 27%, including 23.9% in exports and 28.1% in imports. Trade deficit constituted 30.3%

Georgia’s total trade turnover with CIS countries constituted USD 1.5 billion, up 34.4% year on year. Exports stood at USD 474.1 million (61.2 percent higher), while imports equaled USD 1,065 billion (25.2 percent higher).The share of the CIS countries in the external trade turnover of Georgia constituted 31.9 percent, 38.4 percent in exports and 29.7 percent in imports. CIS countries accounted for 25.1 percent of the overall trade deficit.

The top trading partners were Turkey (USD 731.7 million), Russia (USD 518.3 million) and China (USD 412.2 million).

Copper ores and concentrates reclaimed the first place in the list of top export items, equaling USD 216.1 million, or 17.5 percent of total exports, followed by Ferro-alloys equaling 153.5 million or 12.4 percent of total exports. Motor cars occupied the third place, standing at USD 84.8 million or 6.9 percent of the total exports.

The top import commodities were, Petroleum and petroleum oils imports of which amounted to USD 285.2 million and 7.9 percent of the total imports. Motor cars commodity group followed in the list with USD 222.4 million, or 6.2 percent of imports. Petroleum gases and other gaseous came third with USD 182.2 million (5.1 percent of imports).

Georgia at a glance

Area: 69,700 km2 Population (By 2016): 3,720,400 GDP Real Growth Rate (by 2016): 2,7% GDP Per Capita (by 2016): $3852,5 Inflation (June 2017): 7,1% Unemployment (by 2016): 11,8%

Source: Geostat