Georgia’s foreign trade increased 6% in 2013 y/y

Georgia’s foreign trade increased by more than 10 billion USD last year, new figures have revealed.

Georgia’s foreign trade increased by 6% last year, equaling 10.78 billion USD, with the trade gap decreasing by 9.1% y/y to 4.96 billion USD, according to figures released yesterday by state statistics office Geostat.

The figures showed exports grew by 22% reaching 2.9 billion USD, while the imports increased by 0.4% and amounted to USD 7.87 billion, in the same period of 2012.   

The trade deficit equaled 519 million USD and its share in trade turnover constituted 47%. 

Export with EU member countries increased by 3%, valued at 2.87 billion USD, accounting 27% of country’s total trade turnover. 

Georgia’s export to EU-member states reached 608 million USD - a 72% year-on-year increase.

Meanwhile imported products from the EU declined by 7% year-on-year to 2.27 billion USD. 

Georgia’s top five trading partners are Turkey followed by Azerbaijan, Ukraine, Russia and China. 

Turkey remains Georgia’s largest trading partner with total turnover of 1.52 billion USD, a slight decrease compared to 2012. 

Imports from Turkey amounted to 1.34 billion USD in 2013, a 3.6% year-on-year decline, and export was only 182.8 million USD, a 28.1% year-on-year increase.  

Azerbaijan is Georgia’s second largest trading partner with turnover of 1.34 billion USD. Azerbaijan is one of 40 countries in which Georgia has a positive trade balance, due to re-export of vehicles (345.6 million USD). 

Ukraine is Georgia’s third largest trading partner with 795.1 million USD trade turnover in 2013.  

Russia, which was Georgia’s sixth largest trading partner in 2012, was ranked in fourth place in 2013 after Moscow allowed Georgian imported products on its market.  Re-export of cars remained Georgia’s number one export, with a value of 703.8 million USD (19.8% y/y increase) in 2013, followed by ferro-alloys with 229.8 million USD. 

Petroleum and petroleum oils topped the list of imports totaling 954.4 million USD, making its share in total imports at 12.1% in 2013. 

Next in the list of imported products was cars with 710.4 million USD (9%), hydrocarbons - 300.9 million USD (3.8%), medicines - 280.7 million USD (3.6%), wheat - 184.3 million USD (2.3%), mobile and other wireless phones - 152.1 million USD (1.9%), copper ores and concentrates –113 million USD (1.4%), cigarettes –95.6 million USD (1.2%), computers –90.1% million USD (1.1%), and finally trucks –79.4 million USD (1%).