External Merchandise Trade of Georgia in January - August 2020

External Merchandise Trade of Georgia in January - August 2020

National Statistics Office of Georgia published preliminary data of the External Merchandise Trade of Georgia in January-August 2020. the external merchandise trade (excluding non-declared trade) of Georgia amounted to USD 7 022.8 million, 16.7 percent lower to the same period of 2019. The exports equaled USD 2 071.4 million (14.7 percent lower), while the imports stood at USD 4 951.4 million (17.5 percent lower). The negative trade balance was USD 2 880.0 million in January-August 2020 and its share in external trade turnover constituted 41.0 percent.

In January-August 2020 the share of the top ten trading partners by exports in the total exports of Georgia amounted to 77.3 percent. The top partners were China (USD 296.6 million), Azerbaijan (USD 284.3 million) and Russia (USD 266.0 million).

The share of the top ten trading partners by imports in the total imports of Georgia amounted to 69.9 percent (January-August 2020). The top partners were Turkey (USD 840.7 million), Russia (USD 554.6 million) and China (USD 440.9 million).

In the given period the share of the top ten trading partners in the total external trade turnover of Georgia amounted to 70.4 percent. The top trading partners were Turkey (USD 970.4 million), Russia (USD 820.6 million) and China (USD 737.5 million).

In January-August 2020 copper ores and concentrates reclaimed the first place in the list of top export items, equaling USD 462.1 million or 22.3 percent of total exports. The exports of motor cars totaled USD 260.1 million and their share in the total exports amounted to 12.6 percent. The Ferro-alloys exports occupied the third place standing at USD 145.5 million and constituting 7.0 percent of the total exports.

The top import commodities in January-August 2020 were motor cars whose imports equaled USD 481.6 million (9.7 percent of the total imports). The petroleum and petroleum oils followed in the list with USD 325.1 million or 6.6 percent of imports. The Copper ores and concentrates were third in the top import commodity list with USD 312.1 million (6.3 percent of imports).

Today, the National Statistics Office of Georgia also published data of Domestic exports of Georgia (January – August 2020). In January-August 2020 the exports of Georgia (excluding non-declared exports) equaled USD 2 071.4 million, 14.7 percent lower year-on-year. Share of the domestic exports in total export constituted 51.0 percent and amounted to USD 1 055.8 million, 2.7 percent lower to the January-August 2019. Read more. 

It is also noteworthy that In August 2020 the Producer Price Index for Industrial Products increased by 0.05 percent compared to the previous month, while compared to August 2019 the index growth amounted to 4.9 percent. The prices for manufactured products decreased by 0.4 percent compared to July 2020, resulting in a -0.33 percentage point contribution to the overall monthly PPI change. Within the group noteworthy price decrease was registered for basic metals (-4.9 percent).

External Merchandise Trade of Georgia in January - June 2020

Author: The FINANCIAL

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