Turkey, Azerbaijan and China: Georgia’s top trading partners in January-September 2015
Thursday, October 22The first nine months of the year have seen the value of Georgia’s exports and imports (External Merchandise Trade) experience a slight downward trend year-on-year (y/y), claims the National Statistics Office of Georgia, Geostat.
From January-September 2015, Georgia’s External Merchandise Trade (excluding non-organised trade) amounted to $7.309 billion USD, stated Geostat preliminary data. This was a 13 percent drop when compared to the same figures of 2014.
The value of the country’s exports decreased by 24 percent, reaching $1.645 billion, while imports decreased by nine percent and amounted to $5.667 billion in comparison to the January-September period of the previous year.
Geostat said the trade deficit equalled $4.019 billion and its share in trade turnover was 55 percent.
Trade with EU countries
In January-September 2015 the external trade of Georgia with EU countries amounted to $2.318 billion, up six percent compared to the corresponding indicator of the previous year.
Exports amounted to $471 million (two percent higher), while imports amounted to $1,847 million (seven percent higher). The share of these countries in the external trade of Georgia amounted to 32 percent, 29 percent in exports and 33 percent in imports. About 34 percent of the trade deficit came from EU countries.
Trade with CIS countries
In the first nine months of 2015, the external trade of Georgia with the Commonwealth of Independent States (CIS) countries totalled $2.025 billion, which was a drop of 22 percent compared to January-September 2014.
Exports stood at $630 million (44 percent lower), while imports equalled $1.395 billion (six percent lower). The share of CIS countries in the external trade of Georgia constituted 28 percent, 38 percent in exports and 25 percent in imports.
In January-September 2015, compared to the corresponding period of the previous year, CIS countries accounted for 19 percent of the overall trade deficit (nine percent in January-September 2014).
Georgia’s top trading partners in January-September 2015
Between January-September 2015 Georgia's top ten trading partners made up 64 percent of the country's total external trade turnover.
The top trading partners were:
• Turkey ($1.109 billion);
• Azerbaijan ($591 million)
• China ($535 million).
Major commodity groups by exports and imports
During January-September 2015, copper ores and concentrates reclaimed first place on the list of top exported items, equalling $186 million, or 11 percent of total exports. Exports of ferro-alloys totalled $159 million and its share in total exports amounted to 10 percent. Motor cars occupied third place.
Exports of this commodity group stood at $141 million and nine percent of Georgia's total exports.
The top import commodity in January-September 2015 was medicaments; imports of which amounted to $536 million and 10 percent of total imports. Petroleum and petroleum oils was the second largest imported product with $504 million, or nine percent of imports. Motor cars came third with $349 million (six percent of imports). (Agenda.ge)