Georgia increases exports to Europe by 21%
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Georgia is increasing its trading powers with European markets, meaning more Georgian products are being enjoyed by consumers in Europe and possibly further abroad.
Preliminary data from the country’s National Statistics Office, Geostat, revealed Georgia had enjoyed a 21 percent increase in exports to Europe in the first three months of this year, while imports had decreased by five percent.
This meant more Georgian products were being enjoyed in Europe and at the same time, Georgia was reducing its imports and using more locally-produced goods. Furthermore, the data suggested Georgia was now becoming less dependent on markets it formerly relied on, particularly Commonwealth of Independent States (CIS) markets.
Geostat data showed in January-March 2015, Georgia’s external trade with the EU was up by 0.4 percent compared to the corresponding indicator of the previous year. The total value of Georgia’s external trade with EU countries amounted to $637 million USD. Specifically, exports were valued at $170 million USD, while imports amounted to $467 million USD.
The value of Georgia’s External Merchandise Trade (export and imports) was on a downward trend, noted Geostat.
In the first three months of 2015, Georgia’s total External Merchandise Trade (excluding non-organised trade) amounted to $2.28 billion USD. This was a 10 percent decrease year-on-year (y/y). Additionally, the value of exports decreased by 28 percent and imports dropped by three percent y/y.
Exports equalled $503 million USD while imports stood at $1.77 billion USD. The negative trade balance was $1.27 billion USD in January-March 2015 and its share in external trade turnover constituted 56 percent.
Meanwhile, the external trade of Georgia with CIS countries (Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Moldova, Turkmenistan, Tajikistan and Uzbekistan) dropped 25 percent compared to January-March 2014.
In the first three months of 2015, the external trade of Georgia with CIS countries totalled $675 million USD. Exports stood at $175 million USD (55 percent lower), while imports equaled $500 million USD (two percent lower).
Overall, in the first three months of 2015, 35 percent of Georgian exports went to CIS countries, 34 percent went to EU countries and 31 percent went to other countries. In terms of imports, 28 percent came from CIS countries, 26 percent of imports were from EU countries and 46 percent were from other countries, noted Geostat.
Georgia’s top trading partners by turnover for the first part of the year were Turkey ($361 million USD), Azerbaijan ($214 million USD) and China ($192 million USD).
In the first two months of the year, Georgia’s External Merchandise Trade (excluding non-organised trade) amounted to $1.4 billion USD. This was a nine percent drop when compared to the same figures of 2013.
External Merchandise Trade (excluding non-organised trade) of Georgia amounted to $694 million USD in January 2015, according to preliminary data released by Geostat.
Georgia experienced a nine percent decline in external merchandise trade due to the ongoing Russia-Ukraine conflict.
The number of Foreign Direct Investments (FDI) in Georgia has reached a five-year high.
A business conference about Georgia’s new trade opportunities with the European Union (EU) was held today in Brussels, Belgium.
The first part of the year has seen the value of Georgia’s exports and imports (External Merchandise Trade) experience a slight downward trend in comparison to 2014, claims the National Statistics Office of Georgia (Geostat).
The value of Georgia’s exports and imports (External Merchandise Trade) experienced a slight downward trend in the first four months of 2015 in comparison to 2014, claims preliminary data published by the National Statistics Office of Georgia (Geostat).
The value of Georgia’s exports and imports reached almost $4 billion USD in the first five months of 2015, say Geostat, the National Statistics Office of Georiga.
Georgia is exporting fewer products and importing more from abroad, says the country’s National Statistics Office, Geostat.
More Georgian products are being enjoyed in Europe and at the same time, Georgia is reducing its imports and using more locally produced goods.
The first nine months of the year has seen the value of Georgia’s exports and imports (External Merchandise Trade) experience a slight downward trend year-on-year (y/y), claims the National Statistics Office of Georgia, Geostat.
The first 10 months of the year has seen the value of Georgia’s exports and imports (External Merchandise Trade) experience a slight downward trend year-on-year (y/y), claims the National Statistics Office of Georgia, Geostat.
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.
The first 11 months of the year has seen the value of Georgia’s exports and imports (External Merchandise Trade) decrease year-on-year, claims the National Statistics Office of Georgia, Geostat.
The value of Georgia’s exports and imports (External Merchandise Trade) decrease year-on-year (y/y), claims the National Statistics Office of Georgia, Geostat.
The European Union (EU) is the largest investor in Georgia and the biggest trade partner of the country, claims EU Ambassador to Georgia Janos Herman.