Georgia’s exports reach $1,459m in eight months of 2015

The value of Georgia’s exports and imports (External Merchandise Trade) experienced a slight downward trend in the first eight months of 2015 in comparison to 2014, claims preliminary data published by the National Statistics Office of Georgia (Geostat).

Geostat data showed between January and August 2015 external merchandise trade (excluding non-organised trade) in Georgia amounted to $6,395 million USD, which was a 14 percent decreased year-on-year (y/y). Exports equalled $1,459 million (24 percent lower), while imports stood at $4,937 million (10 percent lower).

In the reporting period the negative trade balance was $3,478 million and its share in external trade turnover constituted 54 percent.

Georgia’s trade with EU countries

In January-August 2015 the external trade of Georgia with European Union (EU) countries amounted to $1,982 million, up two percent compared to the same time in 2014. Exports amounted to $413 million (one percent higher) while imports amounted to $1,569 million (two percent higher).

The share of EU countries in the external trade of Georgia amounted to 31 percent; 28 percent in exports and 32 percent in imports. Thirty three percent of Georgia’s trade deficit came from EU countries.

Georgia’s trade with CIS countries

Georgia’s external trade with countries from the Commonwealth of Independent States (CIS) totalled $1,791 million in January-August 2015, which was a decrease of 23 percent y/y.

Exports stood at $556 million (45 percent lower) while imports equalled $1,235 million (six percent lower). The share of CIS countries in Georgia’s external trade constituted 28 percent; 38 percent in exports and 25 percent in imports.

Meanwhile CIS countries accounted for 20 percent of the overall trade deficit Georgia between January-August 2015.

Georgia’s top 10 trading partners

In the first eight months of the year Georgia’s top 10 trading partners took up a 64 percent share of total external trade turnover.

In this time Georgia’s top trading partners were Turkey ($988 million), Azerbaijan ($530 million) and China ($476 million).

Major commodity groups by exports and imports

In January-August 2015 copper ores and concentrates reclaimed first place as the most exported item, equalling $172 million or 12 percent of total exports. Exports of ferro-alloys totalled $149 million, giving it a 10 percent share of total exports. Motor cars occupied third place at $125 million and nine percent of total exports.

The top imported product between January-August 2015 was petroleum and petroleum oils. Georgia imported $443 million worth of this commodity, which was nine percent of the total imports.

Medicaments were the next most imported commodity group at $428 million, or nine percent of imports, followed by motor cars came with $317 million, which occupied six percent of imports.

• All figures are in US dollar.