Copper ores and concentrates reclaim first place as Georgia’s top export

The first 10 months of the year has seen the value of Georgia’s exports and imports (External Merchandise Trade) reach just over $8 billion USD.

Preliminary data from the National Statistics Office of Georgia (Geostat) showed from January-October 2015 Georgia’s External Merchandise Trade (excluding non-organised trade) amounted to $8.121 billion, which was a 14 percent drop year-on-year (y/y).

The value of the country’s exports decreased by 24 percent, reaching $1.832 billion, while the value of imports dropped by 10 percent and amounted to $6.289 billion in comparison to the January-October period of 2014.

Geostat said the trade deficit equalled $4.457 billion and its share in trade turnover was 55 percent.

Trade with EU countries

In the first 10 months of 2015 the external trade of Georgia with the EU countries amounted to $2.568 billion; up four percent compared to the 2014 corresponding data.

Exports stood at $537 million (two percent higher), while imports amounted to $2.031 billion (four percent higher). The share of these countries in the external trade of Georgia amounted to 32 percent; 29 percent in exports and 32 percent in imports. About 34 percent of the trade deficit came from EU countries.

Trade with CIS countries

Between January and October 2015 the external trade of Georgia with countries within the Commonwealth of Independent States (CIS) totalled $2.261 billion. This was a drop of 23 percent compared to data from January-October 2014).

Exports to CIS countries were valued at $703 million (44 percent lower) while the value of imports from CIS countries reached $1.559 billion (eight percent lower). The share of CIS countries in the external trade of Georgia constituted 28 percent; 38 percent in exports and 25 percent in imports.

Between January and October 2015, CIS countries accounted for 19 percent of Georgia’s overall trade deficit. In 2014 this corresponding figure was nine percent.

Georgia’s top 10 trading partners in January-October 2015

Georgia’s top trading partners were Turkey ($1.246 billion), Azerbaijan ($664 million) and China ($596 million).

Between January-October 2015 Georgia’s top ten trading partners made up 64 percent of the total external trade turnover of Georgia.

Major commodity groups by exports and imports

In January-October 2015 copper ores and concentrates reclaimed first place on the list of top exported items, equalling $207 million or 11 percent of total exports. Exports of Ferro-alloys totalled $167 million and made up a nine percent share of Georgia’s total exports.

Motor cars occupied third place on the list. Exports of motor cars equalled $154 million and eight percent of the total exports.

The top commodity imported to Georgia between January and October 2015 was petroleum and petroleum oils, the value of which was $558 million and nine percent of Georgia’s total imports.

Medicaments were the next most imported commodity group, also valued at $558 million or nine percent of imports. Motor cars came third with $381 million, which was six percent of all imports.

*All figures are in US dollar.