Georgia’s exports worth $608m in January-April 2016
Friday, May 20Georgia has exported goods worth $608 million in the first four months of this year.
The value of Georgia’s exports and imports (External Merchandise Trade) was growing year-on-year (y/y), said the National Statistics Office of Georgia (Geostat).
Preliminary data published today showed Georgia’s External Merchandise Trade (excluding non-organised trade) amounted to $3.3 billion in January-April 2016. This was an eight percent increase compared to the same period of 2015.
Furthermore, Geostat said the value of goods exported from Georgia decreased 12 percent to $608 million, while the value of goods imported grew 14 percent to $2.7 billion in January-April 2016.
Georgia’s trade deficit equalled $2.071million, which made up 63 percent of total trade turnover.
Trade with EU countries
Georgia increased its external trade turnover with European Union (EU) countries by 11 percent y/y.
Geostat said in January-April 2016 the external trade turnover of Georgia with EU countries amounted to $936 million.
Exports to these countries were worth $47 million (28 percent lower), while imports amounted to $789 million (24 percent higher). The share of these countries in the external trade turnover of Georgia amounted to 28 percent; 24 percent in exports and 29 percent in imports.
Geostat said 31 percent of its trade deficit came from EU countries.
Trade with CIS countries
While Georgia experienced increased trade turnover with EU countries, its role as an important trade partner for countries in the Commonwealth of Independent States (CIS) was weakening.
Geostat said in January-April 2016 the external trade turnover of Georgia with CIS countries totalled $765 million – a 15 percent reduction y/y.
Exports stood at $184 million (26 percent lower) while imports equalled $581 million (10 percent lower). The share of the CIS countries in the external trade turnover of Georgia constituted 23 percent; 30 percent in exports and 22 percent in imports.
Year-on-year CIS countries accounted for 19 percent of the overall trade deficit, said Geostat.
Georgia’s top trading partners in January-April 2016
In January-April 2016 Georgia’s top 10 trading partners made up 70 percent of Georgia’s total trade turnover.
Georgia’s top trading partners were:
• Turkey ($475 million);
• Canada ($450 million); and
• Russia ($256 million).
What commodities does Georgia export/import?
Copper ores and concentrates were the top items Georgia exported, worth $113 million or 19 percent of total exports in January-April 2016.
The next largest exported commodity was motor cars, the value of which was worth $48 million or eight percent of the total exports, said Geostat.
Nuts (fresh or dried) were the third most exported item. Exports of this commodity group stood at $45 million and made up eight percent of total exports.
Top imported commodities in January-April 2016
Geostat revealed the top imported commodity in January-April 2016 were medicaments which import amounted to $723 million. This was 27 percent of all imported goods.
The group covering motor cars was the second most imported commodity. In the reporting period Georgia imported $136 million worth of these products, which was five percent of all imports.
Petroleum and petroleum oils came third with $135 million (five percent of imports). (agenda.ge)