Re-exported motor cars, top export item in the first quarter of 2014
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Re-export of motor cars leads the list of the top ten export items from Georgia equaling $152 million USD, or 22 percent of total exports of the year in the first three months of 2014.
Cars are followed by ferroalloys, which totalled $70 million USD (10 percent), the state statistics office Geostat reported. Top export product also includes:
- Wine of fresh grapes - $51 million USD;
- Nitrogen fertilizers – $45.6 million USD;
- Mineral waters – $34.4 million USD;
- Non-denatured ethyl alcohol and spirits – $24 million USD;
- Railway locomotives – $22 million USD;
- Hazelnut – $21.6 million USD;
- Bars and rods of iron and steel –$16.6 million USD.
Trade at a glance
In total Georgia’s foreign trade turnover increased 18 percent year-to-year (y/y) in the reported period to $2.52 billion USD. The trade gap increasing from 11.5 percent y/y to $1.13 billion USD.
Exports increased by 23 percent y/y to $696 million USD in January-March 2014 and imports increased by 16 percent y/y to $1.82 billion USD.
The external trade of Georgia with EU countries amounted to $635 million USD, down 15 percent compared to the same time the previous year.
The external trade of Georgia with CIS countries totaled $893 million USD (24 percent higher compared to January-March 2013). Exports stood at 391 million USD (31 percent higher), while imports equaled 501 million USD (20 percent higher).
Petroleum - top import commodity
The top import commodity was petroleum and petroleum oils, imports of which amounted to $190 million USD and 10 percent of the total imports. Motor cars commodity group followed in the list with $149.7 million USD, or 8 percent of imports. Petroleum gases and other gases came third with $127.9 million USD (7 percent of imports).
The top import products also include:
- Medicines - $63.2 million USD;
- Mobile and other wireless phones – $36 million USD;
- Copper ores and concentrates – $35.3 million USD;
- Wheat – $28.7 million USD;
- Computers – $21.3 million USD;
- Metal construction materials – $19.3 million USD;
- Cigarettes – $18.9 million USD.
Top trading partner countries
In January-March 2014 the share of top ten trading partners in the total external trade turnover of Georgia amounted to 68 percent. The top trading partners were Turkey ($368 million USD), Azerbaijan ($320 million USD) and Russia ($190 million USD).
Georgia’s agriculture and trade sectors increased significantly in 2013 and contributed to boosting the country’s gross domestic product (GDP).
Georgia’s exports with European Union (EU) countries saw a positive movement in the first nine months of the year, bringing more confidence back into the marketplace.
Georgia’s foreign trade turnover saw positive movement in the first 10 months of the year, increasing its number of trade partner countries from 131 to 142.
Georgia’s foreign trade turnover saw positive movement in the first 11 months of the year and has increased by 7 percent year-on-year (y/y) to $10.3 billion USD.