EU countries take 30% share in Georgia’s external trade
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More Georgian products are being enjoyed in Europe and at the same time, Georgia is reducing its imports and using more locally produced goods.
Preliminary data from the country’s National Statistics Office, Geostat, revealed Georgia was now becoming less dependent on markets it formerly relied on, particularly markets within the Commonwealth of Independent States (CIS).
Geostat data showed in January-June 2015, Georgia’s external trade with the EU amounted to $1,434 million USD, up by two percent compared to the same time of last year. Exports amounted to $293 million USD, while imports amounted to $1,141 million USD. The share of these countries in the external trade of Georgia amounted to 30 percent; 27 percent in exports and 31 percent in imports.
The value of Georgia’s External Merchandise Trade (export and imports) was on a downward trend, noted Geostat.In January –June 2015, external merchandise trade (excluding non-organised trade) in Georgia amounted to $4,761 million USD, which was a 13 percent decreased year–on–year (y/y).
Georgia's exports equalled $1,082 million USD (24 percent lower), while imports stood at $3,680 million USD (nine percent lower). The negative trade balance was $2,598 million USD in the first six months of 2015 and its share in external trade turnover constituted 55 percent. A third (33 percent) of the trade deficit came to EU countries, while this was 31 percent in January-June 2014.
Meanwhile, the external trade of Georgia with CIS countries (Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Moldova, Turkmenistan, Tajikistan and Uzbekistan) dropped 21 percent compared to January-March 2014.
In January-June 2015 Georgia’s external trade with the CIS countries totalled $1,356 million. Exports stood at $417 million (45 percent lower), while imports equalled $939 million (two percent lower). CIS countries had a 28 percent share in the total external trade of Georgia; 39 percent in exports and 26 percent in imports.
In January-June 2015 the share of the top ten trading partners in the total external trade turnover of Georgia amounted to 64 percent.
Georgia’s top trading partners by turnover for the first part of the year were Turkey ($756 million), Azerbaijan ($409 million) and China ($371 million).
Copper ores and concentrates reclaimed the first place as top export items, equalling $130 million, or 12 percent of total exports. Exports of Ferro-alloys totalled $110 million, and its share in total exports amounted to 10 percent.
Motor cars occupied third place. Exports of this commodity group stood at $99 million and nine percent of total exports.
The top import commodity in January-June 2015 was petroleum and petroleum oils, imports of which amounted to $305 million and eight percent of the total imports.
Medication was the next biggest commodity imported with $298 million, or eight percent of imports. Motor cars came third with $ 244 million (seven percent of imports).
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