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The News in Brief

Friday, July 20
Presidents of Georgia, Sri Lanka meet in Tbilisi

President of Sri Lanka Maithripala Sirisena, who is visiting Tbilisi on a three day work trip to speak at the 5th OGP summit hosted in Tbilisi, met with the President of Georgia Giorgi Margvelashvili on Wednesday with the aim of strengthening the two countries’ bilateral relationship of nearly 20 years since 1998.

During the meeting and the special lunch held at the Presidential palace, Margvelashvili thanked Sirisena for taking part in the OGP summit. As Georgia regards ties with Sri Lanka as highly important, President Margvelashvili especially noted that in order to further establish the two countries’ relationship, more frequent visits are needed.

Both Presidents focused on ways to enhance the economic, political and humanitarian ties between Sri Lanka and Georgia. These included amplifying ties in agriculture and tourism and improving the facilities for students from Sri Lanka, who are receiving education in Georgia.

President Margvelashvili added that, although as of now the trade rate is low between Georgia and Sri Lanka, there is much bigger potential for deepening and improving the ties in agricultural, economical and commercial fields.

Margvelashvili gave the guest detailed information regarding the circumstances of Georgia’s occupied territories and the politics of recognition.

The OGP 2018 Global Summit held on July 17-19, hosted 96 national and local participants and focused on civic engagement, fighting against corruption, and public service delivery.

Georgia’s External Merchandise Trade increased by 24.3% in 2018

Preliminary results from the National Statistics Office of Georgia (Geostat) show that in January-June 2018, external merchandise trade of Georgia equated to $ 5 985.9 million, which is 24.3% higher than the data recorded during the same period last year.

The data shows that both export and import rates increased. The value of exports equated to $ 1 593.6 million, which is 28.5% higher than last year, while the value of imports increased by 22.9%.

The current account deficit equated to $ 2 798.7 million its share in external trade turnover constituted 46.8%.

According to the data, external trade turnover of Georgia with the EU countries in January-June 2018 grew by 25.2% and equated to $1 644.5 million compared to the indicators from last year.

The value of the exports grew by 21.5% and imports amounted to $ 1 276.7 million, increased by 26.3%.

The share of these countries in the external trade turnover equated to 27.5%, 23.1 % in exports and 29.1 % in imports, while in January-June the numbers were 27.3, 24.4 and 28.3% correspondingly.

The trade deficit equated to 32.5%, which is 2.2% higher than January-June 2017.

As for external trade turnover of Georgia in January-June 2018 with the CIS countries, the numbers increased by 33.9% ( $ 2 037.3 million) compared to last year. Exports increased by 50.7% ($ 720.1 million), while the imports grew by 26.2 % ($1 317.1 million).

The share of the CIS countries in the external trade turnover of Georgia equated to 34.0%, 45.2 % in exports and 30.0 % in imports compared to numbers in January-June 2017 which equated to 31.6, 38.5 and 29.2 %, respectively.

In January-June 2018, trade deficit decreased by 3% since January-June 2017.

The data indicates that the share of the top ten trading partners in the total external trade turnover of Georgia equated to 66.8%. The three top trading partners were Turkey ($ 858.1 million), Russia ($ 650.1 million) and China ($ 510.0 million).

Regarding the top export items in January-June 2018, copper ores and concentrates had the highest numbers equating to $242.2 million, which equates to 15.2% of total exports.

While, Ferro-alloys totaled $186.0 million and its share in the total exports amounted to 11.7%. Motorcars took the third place, standing at $163.5 million and 10.3% of the total exports.

However, the top import items in January-June 2018 were Petroleum and petroleum oils of which amounted to $ 402.0 million and 9.2% of the total imports. Next on the list were Motorcars with $272.9 million, or 6.2 % of imports. Copper ores and concentrates came third with $181.2 million, which equated 4.1 % of imports.
(By Mariam Chanishvili)