Jan-Oct 2019: external trade turnover with EU down 3.8 per cent

The external trade turnover with European Union (EU) countries decreased 3.8 per cent year-on-year (y/y) and amounted to $2.57 billion, while it increased by 0.6 per cent with the Commonwealth of Independent States (CIS) countries and reached $3.54 billion in January-October 2019, show preliminary data from the National Statistics Office of Georgia (Geostat).

Top trading partners 

Georgia's top trading partners were Turkey ($1.47 billion), Russia ($1.18 billion) and China ($871.8 million) in January-October 2019. 

In January-October 2019 the share of the top ten trading partners in Georgia’s total external trade turnover amounted to 66.6 per cent.

Top countries by exports

In January-October 2019 the share of the top ten trading partners by exports in total exports of Georgia amounted to 72.7 per cent.

In January-October the top export partners were Russia ($409.8 million), Azerbaijan ($400.4 million) and Armenia ($310.4 million).

Top countries by imports

In January-October 2019 the share of the top ten trading partners by imports in total imports of Georgia amounted to 65.6 per cent.

However, top import partners were Turkey ($1.3 billion), Russia ($774.2 million) and China ($721.2 million).

Trade with EU countries

Exports totalled $685.2 million (14.2 per cent higher y/y), while imports reached $1.89 billion (9 per cent lower y/y).

The share of exports to EU countries constituted 22.6 per cent of total exports, while the share of imports constituted 25.8 per cent of total imports.

Trade with CIS countries

Exports came to $1.61 billion (22.5 per cent higher y/y) while imports sank to $1.93 billion (12.5 per cent lower y/y).

The share of exports to CIS countries constituted 53.1 per cent of total exports, while the share of imports equalled 26.3 per cent of total imports.

What are Georgia’s main exports?

Georgia’s top exported commodities in January-October 2019 were:

• Copper ores and concentrates - $528.5  million (17.4% of total exports)
• Motor cars - $522.5  million (17.2% of total exports)
• Ferro-alloys - $251.7 million (8.3% of total exports)

What are Georgia’s main imports?

The top import commodities in January-October 2019 were:

• Petroleum and petroleum oils - $616.2  million (8.4% of total imports)
• Motor cars - $529.5  million (7.2% of total imports)
• Copper ores and concentrates - $497.5  million (6.8% of total imports)

Overall, Georgia’s external trade turnover increased to $10.37 billion (0.5 per cent higher y/y) in January-October 2019 reports preliminary data from the National Statistics Office of Georgia (Geostat).

• Georgian external trade amounts to $10.37 billion in January-October 2019

The value of exports increased by 10.4 per cent and reached $3.04 billion, while imports decreased 3.1 per cent and amounted to $7.33 billion.

The trade deficit of Georgia in January-October 2019 amounted to $4.3 billion which is 41.4 per cent of trade turnover.