Georgia’s Foreign Trade in January-July 2018

Georgia’s Foreign Trade in January-July 2018

Georgia’s Foreign Trade in January-July 2018

The FINANCIAL -- Georgia’s foreign trade turnover in the first seven months of 2018 increased by 24.4% year-on-year, reaching USD 7.1 billion, according to the preliminary figures released by the state statistics office.

Exports from Georgia increased by 28.8% year-on-year to USD 1.9 billion and imports were up by 22.9% y/y to USD 5.2 billion, with trade gap standing at USD 3.3 billion, according to Civil.ge.

Trade turnover with the EU-member states stood at USD 2 billion in January-July of 2018, which is 25.6% increase over the same period of last year. Exports from Georgia to the EU-member states increased by 20.2% y/y to USD 417.7 million, while imports constituted USD 1.5 billion, which is 27.2% increase y/y.

Trade turnover with the Commonwealth of Independent States (CIS) increased by 33.5% y/y to USD 2.4 billion. Georgia’s exports to CIS countries were up by 52.1% y/y to USD 872.9 million and imports increased by 24.7% to USD 1.5 billion.

Turkey remains Georgia’s largest trading partner with USD 1 billion in January-July of 2018, followed by Russia, Azerbaijan and China with USD 760.9 million, USD 611.7 million and USD 584.1 million, respectively.

They are followed by Ukraine with total trade turnover of USD 367.6 million; Armenia – USD 345.2 million; United States – USD 300 million; Germany – USD 279.4 million; Bulgaria – USD 246 million; France – USD 183.8 million.

Azerbaijan tops the list of largest trading partners by exports with USD 251.8 million, followed by Russia, Turkey and Armenia with USD 240.8 million, USD 172.6 million and USD 150.2 million, respectively.

Turkey, Russia, China and Azerbaijan are the top trading partners of Georgia in terms of imports with USD 828.2 million, USD 520 million, USD 505.5 million and USD 332.2 million, respectively.

Copper ores and concentrates were on top of the list of exports with USD 278.1 million (19.1% of total exports), followed by ferroalloys – USD 205.9 million (14.2% of total exports); re-export of cars – USD 203.1 million (14% of total exports); wine – USD 105.6 million (7.3% of total exports); medicines – USD 80.8 million (5.6% of total exports); spirits – USD 72.8 million (5% of total exports); cigarettes – USD 66.2 million (4.6% of total exports); mineral waters – USD 62.7 million (4.3% of total exports); nitrogen fertilizers – USD 59 million (4.1% of total exports); gold – USD 45.5 million (3.1% of total exports); other commodities – USD 691.6 million (18.8% of total exports).

Petroleum and petroleum oils are on top of the list of imports with USD 489.3 million (9.4% of total imports), followed by cars – USD 335.3 million (6.5% of total imports); copper ores and concentrates – USD 218 million (4.2% of total imports); medicines – USD 191.1 million (3.7% of total imports); petroleum gases – USD 170.3 million (3.3% of total imports); mobile and other wireless phones – USD 104.5 million (2% of total imports); cigarettes – USD 84.2 million (1.6% of total imports); automatic data processing machines – USD 81.7 million (1.6% of total imports); gas turbines – USD 80.7 million (1.6% of total imports); wheat – USD 62.4 million (1.2% of total imports); other commodities – USD 3.4 billion (64.9% of total imports).