External merchandise trade in Georgia: January-November

By Natalia Kochiashvili

Tuesday, December 22

The most imported product to Georgia in January-November 2020 was cars - $ 680.7 million, a decrease of -32.4% over the previous year.

The National Statistics Office (Geostat) released preliminary data on December 21, according to which, Georgia’s foreign trade turnover in the first 11 months of 2020 decreased by 14.6% compared to the same period last year, amounting to $ 10.2 billion.

Exports decreased by 11.3% year-on-year to $3.02 billion, while imports were down by 15.9%, reaching $7.19 billion. Meanwhile, the trade deficit equaled $4.17 billion, constituting 40.9% of the trade turnover during January-November 2020.

Turkey remained Georgia’s largest trading partner with $1.43 billion in January-November 2020, followed by Russia, China, Azerbaijan, and the United States with $1.19 billion, $1.09 billion, $831.3 million, and $568.4 million, respectively.

China tops the list of largest trading partners by exports with $445.9 million, followed by Azerbaijan($399.6 million), Russia($396.6 million), Bulgaria( $282.9 million), and Ukraine with $190 million.

Turkey, Russia, China, the United States, and Azerbaijan are the top trading partners of Georgia in terms of imports with $1.26 billion, $789.1 million, $646.3 million, $490.5 million, and $431.7 million, respectively.

Copper ores and concentrates are on top of the list of export commodities with $677.2 million, followed by motor cars with – $364.8 million; Ferro-alloys – $231.6 million; wine or fresh grapes – $186.2 million; spirituous beverages – $115.9 million; waters, natural or artificial mineral and aerated waters – $105.3 million; precious metal ores and concentrates – $87.6 million; medicaments put up in measured doses – $86.9 million; gold – $86.2 million; hazelnuts and other nuts – $81.3 million; other commodities – $993.5 million.

Amid the economic crisis in Georgia, imports fell by $ 1.36 billion, down 15.9%. The Geostat report shows that such a drop in imports was reflected in a fairly wide range of products, resulting in a decrease in imports of 9 out of the top 10 imported goods. Among them, the largest decrease was in cars, which is reduced by $ 327 million (32.4%). As global consumption declined, world oil prices fell by $ 235 million (34.3%) and natural gas imports fell by $ 42 million (11.4%) as world oil prices fell.

Motor cars are on top of the list of import commodities in Georgia’s foreign trade with $680.7 million, followed by copper ores and concentrates – $494.2 million; petroleum and petroleum oils – $451 million; medicaments put up in measured doses – $280.7 million; petroleum gases and other gaseous hydrocarbons – $248.1 million; telephone sets – $149.4 million; wheat and meslin – $97.7 million; cigars, cheroots, cigarillos, and cigarettes – $75 million; new pneumatic rubber tires – $61 million; precious metal ores and concentrates – $54.1 million; other commodities – $4.57 billion.