Turkey, Russia and Azerbaijan were Georgia’s top trade partners this year, shows preliminary data from the National Statistics Office of Georgia (Geostat).
Georgia’s top 10 trade partners in January-February 2017 made for 67 percent of the country’s total trade turnover, with Turkey ($198 million), Russia ($163 million) and Azerbaijan ($146 million) filling the top three spots.
Trade with EU countries
Trade turnover with European Union (EU) countries increased by 15 percent year-on-year (y/y) and amounted to $375 million, said Geostat.
Exports were worth $102 million (31 percent higher), while imports reached $274 million (10 percent higher).
Trade with CIS countries
The external trade turnover of Georgia with the Commonwealth of Independent States (CIS) countries totalled $497 million in January-February 2017 – a 40 percent higher compared to January 2016.
Exports were worth $129 million (75 percent higher) while imports equalled $367 million (31 percent higher).
What are Georgia's main exports?
Georgia's top exported commodities in January-February 2017 were:
- Copper ores and concentrates (worth $58 million, or 16 percent of total exports)
- Ferro-alloys (worth $53 million, or 15 percent of total exports)
- Natural wines (worth $20 million, or six percent of total exports)
What are Georgia's main imports?
Georgia's top imported commodities were:
- Petroleum gases and other gaseous hydrocarbons (worth $109 million, or 10 percent of total imports)
- Petroleum and petroleum oils (worth $70 million, or seven percent of total imports)
- Copper ores and concentrates (worth $59 million or six percent of total imports)
Georgia’s external trade in January-February 2017
Georgia’s external trade grew by 18 percent this year and reached $1.4 billion in January-February 2017.
This year the value of Georgia’s exports increased by 27 percent to $356 million, while the value of imports also increased 15 percent to $1.06 billion with respect to January-February 2016.
Georgia’s trade deficit equalled $712 million this year, which was a 50 percent share of the country's total trade turnover.
Trade deficit is an economic measure of the negative balance of trade in which a country's imports exceed its exports.