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Thursday, April 17, 2014
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External Trade to Grow

Written by Nana Mghebrishvili, The FINANCIAL

03/02/2013 20:59 (437 Day 10:32 minutes ago)

The FINANCIAL -- External trade is forcast to grow significantly in 2013 thanks to the opening of the Russian market, which has always traditionally been the main trade partner of Georgia.



Still, the external merchandise trade (excluding non-organized trade) of Georgia amounted to USD 10,220 million in 2012, up 11 percent from the same period of the previous year.

Compared to 2011, the volume of export grew by 9 percent and reached USD 2,377 million, while import increased by 11 percent amounting to USD 7,842 million. The trade deficit reached USD 5,465 million and amounted to 53 percent of total trade turnover.

Trade turnover with EU countries came to a total of USD 2,780 million, which is 12 percent more compared to the previous year. It is remarkable that export decreased by 17 percent, while import grew by 18 percent.

Trade turnover with CIS countries totalled USD 3,242 million, 18 percent more compared to 2011. It total CIS countries comprise 32 percent of total trade turnover.

Nowadays the main trade partners are Turkey with USD 1,536 million, Azerbaijan with USD 1,260 million and Ukraine with USD 764 million. As well as them there are China, Germany, Russia, the USA, Bulgaria, Armenia and Italy.

The top trade products remain the same as in 2011. The leader in exports is still motor cars, which make up 25 percent of total export (USD 587 million). Ferroalloys with USD 260 million make up 11 percent of total export, and mineral or chemical fertilizers, nitrogenous hold third place with USD 137 million.

The leader in import is petroleum and petroleum oils, the same as in the previous year. The import of oil amounted to USD 951 million. Motor cars with USD 663 million make up 9 percent of total import. Petroleum and other gases are among the top three import products constituting 3 percent of total import.

The major exports of commodities to Turkey are ferrous waste and scrap, ferro-alloys, knitted goods, motor cars and women’s blouses. The major imports of commodities from Turkey are plastic tubes and pipes, structures and parts of structures, insulated wire, cable, medicaments and iron tubes and pipes.



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