Tuesday, July 24, 2007, #139 (1406)

Georgian Foreign Trade Jumps 37 Percent in 2007
By Christina Tashkevich

Georgia’s foreign trade turnover rose 37.1 percent in the first half of the year compared to the same period last year, the Statistics Department says, reaching over USD 2.7 billion.

Exports amounted to just USD 548.6 million, compared to USD 2.2 billion in imports. Imports are up 42 percent; exports grew by 20.1 percent, leaving the country with a USD 1.7 billion trade deficit with 96 countries in the first half of 2007. Georgia has a positive trade balance with 21 countries for that period.

Trade turnover with CIS states accounted for 37 percent of trade in the first half of the year, dropping from 41 percent a year ago. Trade turnover with EU countries rose to 28.7 percent of the total.

Trade turnover with Turkey, Georgia’s largest trade partner for the year, doubled to over USD 387 million.

Russia is now Georgia’s second largest trade partner; Moscow’s embargo on a slew of Georgian goods sent trade down just 4.4 percent to USD 322 million.

The third largest trade partner is Ukraine, with turnover hitting USD 262 million. Imports accounted for USD 225 million of the total, though exports to the Black Sea neighbour are up 42 percent.

Georgia’s prime export is scrap metal. Oil products, vehicles and medicines are the most imported goods.



© The Messenger. All rights reserved. Please read our disclaimer before using any of the published materials.