Georgian external trade up 16.2% in January-October with Turkey, Russia, US top trading partners
Georgia's top trading partners by exports were Azerbaijan ($713.5mln), Armenia ($657.5 million) and Kazakhstan ($579.9 million), while imports were topped by Turkey ($2.10 billion), US ($1.59 billion) and Russia ($1.48 billion). Photo: Geostat
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Turkey with $2.46 billion, Russia with $2.04 billion and the United States with $1.66 billion were the top trading partners of Georgia in its total external trade turnover between January and October, the National Statistics office of Georgia said on Monday.
Georgia's top trading partners by exports were Azerbaijan ($713.5mln), Armenia ($657.5 million) and Kazakhstan ($579.9 million), while imports were topped by Turkey ($2.10 billion), US ($1.59 billion) and Russia ($1.48 billion).
The top export items were the following:
- Motor vehicles - $1.76 billion (34.5 percent of total exports)
- Copper ores and concentrates - $450.9 million (8.8 percent)
- Wine of fresh grapes - $217.3 million (4.3 percent)
The three top import commodities included:
- Motor vehicles - $2.58 billion (20.4 percent of the total imports)
- Petroleum and petroleum oils - $928.6 million (7.3 percent)
- Medical drugs - $445.2 million (3.5 percent)
Overall, Georgian external trade turnover amounted to $17.78 billion in January-October, posting a 16.2 percent increase year-on-year.
The value of exports rose by 12.5 percent and equalled $5.10 billion, while imports also grew by 17.8 percent, amounting to $12.68 billion in the reporting period.
Trade deficit, a measure of the negative balance of trade in which imports exceed exports, reached $7.58 billion, and the share of trade turnover hit 42.6 percent.
Georgian external trade turnover amounted to $17.78 billion in January-October, posting a 16.2 percent increase year-on-year, the Georgian National Statistics Office revealed on Monday.
Azerbaijan, Armenia and Russia were the top trading partners of Georgia in its total external trade turnover between January and September, preliminary data from the National Statistics office of Georgia shows.
Vakhtang Tsintsadze, the Georgian Deputy Economy Minister, on Thursday said his office expected the volume of export and trade turnover to hit “new record levels” this year, repeating the results of 2022.
The World Bank’s assessment of Georgia’s logistics capabilities has jumped from 119th to 79th position in its latest Logistics Performance Index, marking an improvement of 40 spots in the report assessing countries’ ability to move goods across borders with speed and reliability.
Georgia exported locally produced goods worth $5.10 billion between January and October, marking a 12.5 percent year-on-year increase in the figure, the National Statistics Office said on Monday.
Georgian external trade turnover amounted to $19.62 billion in January-November, posting a 14.7 percent year-on-year increase, the National Statistics Office said on Wednesday.
Turkey with $2.71 billion, Russia with $2.19 billion and the United States with $1.84 billion were the top trading partners of Georgia in its total external trade turnover between January and November, the National Statistics office said on Tuesday.
Georgian Economy Minister Levan Davitashvili on Monday highlighted last year’s “new record” in the country’s external trade, noting the figure had reached $6.1 billion, a 9.1 percent increase from 2021.