Turkey, Russia, Azerbaijan - Georgia’s top trading partners in January 2016
Tuesday, February 23
Preliminary data published yesterday showed Georgia’s External Merchandise Trade (excluding non-organised trade) amounted to $528 million USD in January 2016. This was a 24 percent drop compared to January 2015.
Furthermore, Geostat said the value of the country’s exports decreased 22 percent to $122 million, while imports dropped by 25 percent to $406 million in the first month of the year.
Georgia’s trade deficit equalled $283 million, which made up 54 percent of total trade turnover.
Trade with EU countries
In January 2016 Georgia's external trade with EU countries amounted to $137 million. This was 25 percent lower compared to January 2015.
Exports were valued at $38 million (38 percent lower), while imports amounted to $99 million (18 percent lower).
EU countries made up 26 percent of Georgia's total external trade; 31 percent in exports and 24 percent in imports. About 21 percent of Georgia's trade deficit came from EU countries.
Trade with CIS countries
In January 2016 the external trade of Georgia with countries in the Commonwealth of Independent States (CIS) totalled $166 million. This was 19 percent less than January 2015.
Exports stood at $30 million (46 percent lower), while imports equalled $137million (nine percent lower).
CIS countries made up 32 percent of Georgia's total external trade; 24 percent in exports and 34 percent in imports. In January 2016, CIS countries accounted for 38 percent of Georgia's overall trade deficit y/y.
Georgia’s top trading partners in January 2016
In the first month of 2016 Georgia's top ten trading partners made up 66 percent of the country's total external trade turnover.
Georgia's top three trading partners were:
• Turkey ($83 million);
• Russia ($54 million); and
• Azerbaijan ($53 million).
What commodities does Georgia export/import?
In January 2016 copper ores and concentrates was the most exported item out of Georgia. The value of this reached $25 million or 20 percent of Georgia’s total exports.
Exports of motor cars was Georgia’s second most exported commodity. The value of this totalled $12 million and made up 10 percent of Georgia’s total exports.
The export of nuts (fresh or dried) was the third most exported item out of Georgia in January 2016. Exports of this commodity group were valued at $10 million or eight percent of total exports.
Meanwhile, the top commodities imported into Georgia in January 2016 were petroleum gases and other gases. Imports of these products amounted to $53 million or 13 percent of the total imports.
Petroleum and petroleum oils were the next highest imported commodity, reaching $32 million or eight percent of imports, while import of motor cars came third at $28 million or seven percent of imports.
(Agenda.ge)