Georgia exports worth $1.3b in January-August
Negative trade balance reduces y/y

Georgia is balancing its trade ties with the European Union (EU), the Commonwealth of Independent States (CIS) and other countries and reducing its negative trade balance.

Georgia’s trade deficit equalled $4.8 billion in the first eight months of 2016, which made up a 65 percent share in trade turnover, showed preliminary data by the National Statistics Office of Georgia (Geostat).

Trade deficit is an economic measure of a negative balance of trade in which a country's imports exceeds its exports.

Between January and August the value of Georgia’s export dropped 10 percent to $1.3 billion, while the value of imports grew 23 percent to $6.1 billion, said Geostat.

Figures showed the volume of Georgia’s imports and exports were 16 percent higher in the first eight months of 2016 year-on-year (y/y).

In the reporting period external merchandise trade (excluding non-organised trade) of Georgia amounted to $7.4 billion.

This is a general data on external trade of Georgia in January-August 2016. Numbers are in million USD. Image by Geostat.  

What's Georgia's main exports?

Georgia's top exported items in January-August were:

• Copper ores and concentrates (worth $205 million or 16 percent of total exports)
• Ferro-alloys (worth $112 million or nine percent of total exports)
• Motor cars (worth $103 million or eight percent of total exports)

This image shows one of Georgia's top exported product in January-August was nuts. Georgia exported more nuts in the reporting period than its traditional export product wine. Image by Mariam Chalauri/Agenda.ge. *Preliminary data

What's Georgia's main imports?

Georgia's top imported items were:

• Medicaments (worth $1.7 billion or 28 percent of total imports)
• Petroleum and petroleum oils (worth $356 million or six percent of total imports)
• Motor cars (worth $298 million or five percent of total imports)

From the medicament imports, $1.5 billion of medicine was specifically for hepatitis C treatment.

From the medicament imports, $1.5 billion of medicine was specifically for hepatitis C treatment. Image by Mariam Chalauri/Agenda.ge. *Preliminary data 

Georgia’s top trading partners in January-August 2016

Georgia’s top 10 trading partners in the first eight months of 2016 made up 68 percent of Georgia’s total trade turnover, said the statistics agency.

In January-June, Georgia’s top three trading partners were:

• Canada ($1.3 billion)
• Turkey ($1.025 billion)
• Russia ($538 million)

Trade with EU countries

In the first eight months of 2016 Georgia slightly decreased its trade ties with EU countries, showed the figures.

Specifically, in the reporting period the external trade turnover of Georgia with EU countries decreased by one percent y/y and amounted to $1.9 billion.

Exports were worth $317 million (23 percent lower), while imports reached $1.6 billion (five percent higher).

Trade with CIS countries

Georgia’s role as an important trade partner for countries in the Commonwealth of Independent States (CIS) weakened slightly in January-August 2016.

During the reporting period Georgia’s external trade turnover with CIS countries reached $1.6 billion – a nine percent reduction y/y.

Exports were worth $429 million (23 percent lower) while imports equalled $1.1 billion (three percent lower).