Georgia’s Foreign Trade in January-September 2017

Georgia’s Foreign Trade in January-September 2017

Georgia’s Foreign Trade in January-September 2017

The FINANCIAL -- Georgia’s foreign trade turnover in the first nine months of 2017 increased by 12.1%, compared to the same period of last year, reaching USD 7.56 billion, according to the preliminary figures released by the state statistics office, Geostat, on October 19.

Exports from Georgia increased by 28.3% year-on-year to USD 1.94 billion and imports were up by 7.4% y/y to USD 5.62 billion in January-September, with trade gap standing at USD 3.68 billion.

Trade turnover with the EU-member states stood at about USD 2.06 billion in the first nine months of this year, 5.6% increase compared to the same period of last year.

Foreign Trade in 2012-2017. Geostat.

Exports from Georgia to the EU-member states increased by 18.9% y/y to USD 462 million, while imports constituted USD 1.6 billion in the first nine months of 2017, which is 2.3% higher y/y.

Trade turnover with the Commonwealth of Independent States (CIS) increased by 31.2% y/y in January-September to USD 2.42 billion. Georgian exports to CIS countries were up by 59% y/y to USD 784.4 million and imports increased by 21% to USD 1.64 billion in the first nine months of this year.

The share of the EU countries in the foreign trade turnover of Georgia stood at 27.3%; 23.8% in exports and 28.5% in imports (last year the corresponding figures stood at 29%, 25.7% and 29.9%).

The share of the CIS countries constituted 32.1%, 40.5% in exports and 29.2% in imports (27.4%, 32.7% and 25.9% last year, respectively).

Turkey remains Georgia’s largest trading partner with USD 1.11 billion in the first nine months of 2017, followed by Russia, China and Azerbaijan with USD 806 million, USD 640 million and USD 567 million, respectively, according to Civil.Ge.

They are followed by Ukraine with total trade turnover of USD 387 million; Armenia – USD 361 million; Germany – USD 346 million; the United States – USD 294 million; Bulgaria – USD 248 million; Italy – USD 204 million.

Shares of import and export by country groups in January-September, 2017. Geostat.

Russia tops the list of largest trading partners by exports with USD 273 million, followed by Azerbaijan, Turkey and China with USD 167 million, USD 165 million and USD 160 million, respectively. Turkey, Russia, China and Azerbaijan are the top trading partners of Georgia in terms of imports with USD 952 million, USD 532 million, USD 480 million and USD 399 million, respectively.

Copper ores and concentrates were on top of the list of exports in the first nine months of 2017 with USD 309 million (16% of total exports), followed by ferroalloys – USD 237 million (12.2% of total exports); re-export of motor cars – USD 149 million (7.7% of total exports); wine – USD 116 million (6% of total exports); medicines – USD 99 million (5.1% of total exports); non-denatured ethyl alcohol and spirits – USD 80 million (4.2% of total exports); mineral waters – USD 67.7 million (3.5% of total exports); chemical fertilizers – USD 55 million (2.9% of total exports); raw or semi-processed gold – USD 53 million (2.8% of total exports); hazelnuts – USD 50 million (2.6% of total exports); other commodities – USD 720 million (37.1% of total exports).

Oil and oil products remain on top of the list of imports with USD 487 million, followed by cars – USD 338 million; copper ores and concentrates – USD 258 million; medicines – USD 246 million; petroleum gases – USD 227 million; mobile and other wireless phones – USD 145 million; wheat – USD 74 million; automatic data processing machines – USD 61 million; cigarettes – USD 59 million; trucks – USD 53 million; other commodities – USD 3.6 billion.