Jan-Aug 2018: Georgia’s external trade up 22.6%

Georgia’s external trade grew by 22.6 per cent in January-August 2018 and reached $8.10 billion, says the National Statistics Office of Georgia (Geostat).

In the first eight months of 2018 the value of Georgia’s exports increased by 27.1 per cent to $2.14 billion, while the value of imports also increased 21 per cent to $5.95 billion with respect to January-August 2017, Geostat data show. 

The negative trade balance was $3.80 billion in January-August 2018 and its share in external trade turnover constituted 47 per cent. Export excluding re-export amounted to $1.50 billion, 13.5 per cent higher year-on-year.

Trade with EU countries

Trade turnover with European Union countries increased by 21.4 per cent year-on-year (y/y) and amounted to $2.20 billion, said Geostat.

In January-August 2018 export from Georgia to EU countries amounted to $455.8 million (11.4 per cent higher compared to January-August 2017) and constituted 21.2 per cent in total exports, while imports amounted to $1.75 billion (24.3 percent higher), equal to 29.4 per cent of total imports.

Trade with CIS countries

The external trade turnover of Georgia with the Commonwealth of Independent States (CIS) countries totalled $2.77 billion in January-August 2018 – 32.6 percent higher compared to the same period of 2017.

In the reporting period export to the CIS countries stood at $1.02 billion (51.3 per cent higher compared to the January-August 2017) and reached 47.8 per cent of total exports, while imports equalled $1.74 billion (23.7 per cent higher) with 29.3 per cent in total import.

Which countries are Georgia’s top trade partners?

Turkey, Russia and China are Georgia’s top trade partners this year, says Geostat.

Georgia’s top 10 trade partners in January-August 2018 made for 66.2 per cent of the country’s total trade turnover.

These following countries fill the top three spots:

• Turkey ($1.12 billion)
• Russia ($879.8 million)
• China ($727.3 million)

What are Georgia's main exports?

Georgia's top exported commodities in January-August 2018 were:

• Copper ores and concentrates (worth $319.1 million, or 14.9 per cent of total exports)
• Motor cars (worth $243 million, or 11.3 per cent of total exports)
• Ferro-alloys (worth $230.4 million, or 10.7 per cent of total exports)

What are Georgia's main imports?

Georgia's top imported commodities were:

• Petroleum and petroleum oils (worth $576.9 million, or 9.7 per cent of total imports)
• Motor cars (worth $389.6 million or 6.5 per cent of total imports)
• Copper ores and concentrates (worth $259.8 million, or 4.4 per cent of total imports)