The FINANCIAL — National Statistics Office of Georgia published preliminary results of External Merchandise Trade of Georgia and The Domestic Exports in January – June 2020. Copper ores and concentrates reclaimed the first place in the list of top export items, equaling USD 332.4 million, or 30.8 percent of total exports.
In January-June 2020 the external merchandise trade (excluding non-declared trade) of Georgia amounted to USD 5 053.9 million, 18.2 percent lower to the same period of 2019. The exports equaled USD 1 503.4 million (16.0 percent lower), while the imports stood at USD 3 550.5 million (19.1 percent lower). The negative trade balance was USD 2 047.0 million in January-June 2020 and its share in external trade turnover constituted 40.5 percent.
In January-June 2020 the share of the top ten trading partners by exports in the total exports of Georgia amounted to 77.4 percent. The top partners were China (USD 205.1 million), Azerbaijan (USD 203.5 million) and Russia (USD 188.1 million), as reported by National Statistics Office of Georgia.
Top trading partners by exports in January-June 2020. Geostat.
In January-June 2020 the share of the top ten trading partners by imports in the total imports of Georgia amounted to 69.4 percent. The top partners were Turkey (USD 595.2 million), Russia (USD 396.1 million) and China (USD 325.6 million).
Top trading partners by imports in January-June 2020. Geostat.
The share of domestic exports (export of locally produced goods and services, including those of foreign origin that have been substantially changed through local processing) in total exports constituted 71.7 per cent and amounted to $1.07 billion, three percent lower to the January-June 2019. In the reporting period the share of the top 10 trading partners by domestic exports in the total domestic exports of Georgia amounted to 80.5 per cent, as reported by local media agenda.ge
In January-June 2020 copper ores and concentrates reclaimed the first place in the list of top export items, equaling USD 332.4 million, or 30.8 percent of total exports. The exports of ferro-alloys totaled USD 117.1 million and their share in the total exports amounted to 10.9 percent. The Wine of fresh grapes exports occupied the third place standing at USD 91.0 million and constituting 8.4 percent of the total exports.
Last week, Minister of Economy and Sustainable Development of Georgia, Natia Turnava officially opened a new enterprise of copper and aluminium wires in Tbilisi. Its production capacity per year shall reach 12000 tons of copper and aluminium. Which in financial terms amounts to the production worth of 300 million GEL. Over 100 people have been employed and 15 million GEL has been invested in the enterprise established by the Turkish company Koç Kablo with the support of the program Enterprise Georgia supporting program. The enterprise, after developing its full production capacity, will employ over 250 people. Read more.
Earlier this month, Natia Turnava Met with Minister of Foreign Affairs and Trade of Hungary, Péter Szijjártó. “This visit of the Hungarian Minister of Foreign Affairs and Trade is the first high-ranking visit to Georgia since the end of the state of emergency. This is symbolic because Hungary is our ally and strategic partner country with we have many common programs and projects and growing economic cooperation,” – Natia Turnava, the Minister of Economy and Sustainable Development stated after the meeting with Hungarian Foreign and Trade Minister.