Georgia's top trading partners in first half of 2020: Turkey, Russia, China
By Natalia Kochiashvili
Wednesday, July 22
The National Statistics Office (Geostat) released preliminary figures of Georgia’s foreign trade turnover on 20th of July. According to the data, it decreased in the first 6 months of 2020 by 18.2%, compared to the same period last year – reaching $5.05 billion.
Exports from Georgia decreased by 16% year-on-year to $1.5 billion, while imports were down by 19.1% y/y to $3.55 billion in January-June, with a trade gap standing at $2.05 billion.
Georgia’s largest trading partner is still Turkey with $697.4 million, followed by Russia, China, Azerbaijan and Armenia with $584.2 million, $530.7 million, $450.9 million and $282.5 million, respectively.
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%. China tops the list of largest trading partners by exports with $205.1 million, followed by Azerbaijan ($203.5 million), Russia ($188.1 million), Bulgaria ($162.7 million) and Turkey ($102.2 million).
In the reporting period the share of the top 10 trading partners in Georgia’s total external trade turnover amounted to 69.9%.
As for imports, top trading partners of Georgia are Turkey, Russia, China, Azerbaijan and Armenia with $595.2 million, $396.1 million, $325.6 million, $247.4 million and $198.7 million, respectively.
Cars top the list of import commodities in Georgia’s foreign trade with $289.9 million, followed by copper ores and concentrates – $234.1 million; petroleum and petroleum oils – $231.6 million; medicines – $158.7 million; petroleum gases – $157.8 million; mobile phones – $69.8 million; wheat – $39.6 million; precious ores and concentrates – $38.2 million; meat – $31.6 million; electricity – $31 million; other commodities – $2.3 billion.
In January-June 2020 copper ores and concentrates reclaimed the first place in the list of top export items, equalling $332.4 million, or 30.8 % of total exports. It is followed by cars with – $184.1 million; ferroalloys – $117.6 million; wine – $91.4 million (8.4%); precious ores and concentrates – $64.7 million; spirits – $53.6 million; mineral waters – $49.4 million; medicines – $45.5 million; gold – $44.9 million; nitrogen fertilizers – $44.2 million; other commodities – $475.6 million. Overall, Georgia’s external trade turnover amounted to $5.072 billion in January-June 2020, which is a decrease of 16.3% compared to the same period of last year, said 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% and amounted to $1.07 billion, 3% lower than the January-June 2019.
