Canada, Turkey, Russia – Georgia’s top trading partners in 2016

Canada, Turkey and Russia were Georgia’s top trade partners in 2016, shows preliminary data from the National Statistics Office of Georgia (Geostat).

Georgia’s top 10 trade partners in 2016 made for 68 percent of the country’s total trade turnover, with Canada ($1,832 million), Turkey ($1,525 million) and Russia ($881 million) filling the top three spots.

Trade with EU countries

Trade turnover with European Union (EU) countries increased by 14 percent year-on-year (y/y) and amounted to $3.60 billion, said Geostat. 

Exports were worth $571 million (12 percent lower), while imports reached $3.03 billion (20 percent higher).

Trade with CIS countries

The external trade turnover of Georgia with the Commonwealth of Independent States (CIS) countries totalled $2.72 billion in 2016 – a three percent y/y reduction.

Exports were worth $739 million (12 percent lower) while imports equalled $1.98 billion (one percent higher).

What are Georgia's main exports?

Georgia's top exported commodities in 2016 were:

• Copper ores and concentrates (worth $312 million, or 15 percent of total exports)
• Nuts (worth $179 million, or nine percent of total exports)
• Ferro-alloys (worth $169 million, or eight percent of total exports)

What are Georgia's main imports?

Georgia's top imported commodities were:

• Medicines (worth $2.89 billion or 29 percent of total imports)
• Petroleum and petroleum oils (worth $619 million, or six percent of total imports)
• Motor cars (worth $473 million, or five percent of total imports)

From the medicine imports, $2.61 billion worth of Hepatitis C treatment medication was imported for the country’s Hepatitis C Elimination Program.

Georgia’s external trade in 2016

Georgia’s external trade grew by 20 percent in 2016 and totalled $11.96 billion, reported Geostat.

Last year the value of Georgia’s exports dropped by four percent to $2.11 billion, while the value of imports increased 27 percent to $9.85 billion.

Georgia’s trade deficit equalled $7.73 billion in 2016, which was a 65 percent share of the country's total trade turnover.

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

Imports excluding Hepatitis C medications were worth $7.23 billion – one percent less compared to 2015.