Georgia’s trade with EU up 38 percent in Jan-Feb 2016

Georgia is increasing its role as an important trade partner for the European Union (EU), and experiencing increased external trade turnover year-on-year (y/y).

In January-February 2016 the external trade turnover of Georgia with EU countries reached $532 million USD. This was 38 percent more compared to the same months of 2015, said the National Statistics Office of Georgia (Geostat).

In particular Georgia enjoyed increased imports from the EU while exports were lower y/y.

Geostat said the value of exports reached $77 million (28 percent lower), while imports reached $454 million (63 percent higher). The share of these countries in the external trade turnover of Georgia amounted to 38 percent; 28 percent in exports and 40 percent in imports.

In general 44 percent of Georgia’s trade deficit came from EU countries in January-February 2016, said Geostat.

Trade with CIS countries

Georgia’s external trade turnover with countries in the Commonwealth of Independent States (CIS) was 18 percent lower in January-February 2016 than in the same months of 2015.

Geostat data revealed in January-February 2016 the external trade turnover of Georgia with CIS countries totalled $353 million.

Exports stood at $74 million (33 percent lower) while imports equalled $279 million (12 percent lower).

The share of the CIS countries in the external trade turnover of Georgia constituted 25 percent; 26 percent in exports and 25 percent in imports.

Geostat said in January-February 2016 CIS countries accounted for 24 percent of the overall trade deficit of early 2016 compared to the same period of the previous year.

In general Georgia’s External Merchandise Trade (excluding non-organised trade) amounted to $1.413 million in January-February 2016. This was two percent lower compared to the same period of 2015.

Furthermore Geostat said the value of the country’s exports decreased 13 percent to $281 million, while imports grew one percent to $1.132 million in January-February 2016.

Georgia’s trade deficit equalled $852 million, which made up 60 percent of total trade turnover.

Georgia’s top trading partners in Jan-Feb 2016

In January-February 2016 the top trading partners of Georgia were: 

• Ireland - $209 million;
• Turkey -$199 million;
• Russia - $117 million;
• China - $109 million;
• Germany - $51 million;
• Ukraine - $43 million;
• Armenia – $33 million;
• Italy – $28 million;
• Brazil - $25 million; and
• Other countries - $310 million.

Geostat said in January-February this year Georgia’s top ten trading partners made up 69 percent of the country’s total external trade turnover.

What commodities does Georgia export/import?

Copper ores and concentrates were the top exported items, equalling $57 million or 20 percent of total exports in January-February 2016.

Next largest exported commodity was motor cars, which totalled $23 million made up eight percent of the total exports, said Geostat.

Nuts, fresh or dried, occupied third place as the most exported item. Exports of this commodity group stood at $21 million and seven percent of total exports.

Meanwhile Geostat revealed the top imported commodity in January-February 2016 were medicaments, imports of which amounted to $235 million and 21 percent of the total imports.

Petroleum gases and other gaseous followed in the list with $88 million, or eight percent of all imports, while petroleum and petroleum oils came third, as Georgia imported goods worth $63 million or six percent of all imports.