The FINANCIAL -- Georgia’s foreign trade turnover in the first quarter of 2017 increased by 18%, compared to the same period of last year, reaching USD 2.28 billion, according to the preliminary figures released by the state statistics office, Geostat, on April 19.
Exports from Georgia increased by 30% year-on-year to USD 577 million (468 million excluding re-export, 32% higher year-on-year) and imports were up by 15% y/y to USD 1.7 billion in January-March, 2017 with trade gap standing at USD 1.1 billion.
Trade turnover with the EU-member states stood at about USD 641 million in the first three months of this year, a 26% increase compared to the same period of last year.
Exports from Georgia to the EU-member states increased by 44% y/y to USD 159 million, while imports constituted USD 481 million in the first three months of 2017, which is 21% higher y/y, according to Civil.Ge.
Trade turnover with the Commonwealth of Independent States (CIS) increased by 35% y/y in January-March 2017 to USD 751 million. Georgian exports to CIS countries were up by 59% y/y to USD 205 million and imports increased by 27% to USD 546 million in the first three months of this year.
The share of the EU countries in the external trade turnover of Georgia stood at 28%, 28% in exports and 28% in imports (last year the corresponding figures stood at 26%, 25% and 27%).
The share of the CIS countries constituted 33%, 36% in exports and 32% in imports (29%, 28% and 29% last year, respectively).
Turkey remains Georgia’s largest trading partner with USD 331 million in the first three months of 2017, followed by Russia, Azerbaijan and China with USD 255, USD 207 and USD 175 million, respectively.
They are followed by Germany with total trade turnover of USD 111 million; Ukraine – USD 104 million; United States – USD 85 million; Armenia – USD 84 million; Bulgaria – USD 77 million; Italy – USD 64 million.
Russia tops the list of largest trading partners by exports with USD 90 million, followed by Turkey and China with 55 and 49 million. Turkey, Azerbaijan, Russia and China are the top trading partners of Georgia in terms of imports with USD 275, USD176, USD 165 and USD 126 million, respectively.
Copper ores and concentrates were on top of the list of exports in the first three months of 2017 with USD 98 million (17% of total exports), followed by ferroalloys – USD 81 million (14% of total exports); re-export of motor cars – USD 35 million (6% of total exports); wine – USD 31 million (5.4% of total exports); medicines – USD 30 million (5.3% of total exports); non-denatured ethyl alcohol and spirits – USD 23 million (4% of total exports); mineral waters – USD 22.6 million (3.9% of total exports); raw or semi-processed gold – USD 17 million (3% pf total exports); hazelnuts – USD 17 million (3% of total exports); other commodities – USD 199 (34% of total exports).
Gas and oil products remain on top of the list of imports with USD 138 million and USD 122 million, respectively, followed by cars – USD 105 million; medicines – USD 92 million; copper ores and concentrates – USD 74 million; telephones – USD 40 million; electrical energy – USD 30 million; train carriage – USD 22 million; structures and parts of structures of iron – USD 18 million; wheat – USD 18 million; other commodities – USD 1 billion.