Georgia-EU trade turnover increases 27%, reaches $174m
Tuesday, February 21Georgia is increasing its trade power with the European Union (EU), the Commonwealth of Independent States (CIS) and other countries, reports the National Statistics Office of Georgia (Geostat).
In January 2017, Georgia’s external trade turnover with EU countries increased by 27 percent year-on-year (y/y) and amounted to $174 million, while with CIS countries trade turnover totalled $220 million – a 32 percent increase y/y.
Georgia’s top 10 trade partners in January 2017 made for 67 percent of the country’s total trade turnover, with Turkey ($86 million), Azerbaijan ($73 million) and Russia ($72 million) filling the top three spots.
Overall, Georgia’s external trade grew by 22 percent in January 2017 and totalled $651 million, said Geostat.
Last month the value of Georgia’s exports increased by 45 percent to $177 million, while the value of imports increased by 15 percent to $474 million.
The negative trade balance in January 2017 was $297 million and its share in external trade turnover constituted 46 percent. Export excluding re-export amounted to $143 million, 47 percent higher y/y.
What are Georgia's main exports?
Georgia's top exported commodities in January 2017 were:
• Copper ores and concentrates (worth $33 million, or 19 percent of total exports)
• Ferro-alloys (worth $24 million, or 13 percent of total exports)
• Mineral or chemical fertilizers (worth $11 million, or six percent of the total exports)
What are Georgia's main imports?
Georgia's top imported commodities were:
• Petroleum gases and other gaseous (worth $53 million, or 11 percent of total imports)
• Motor cars (worth $27 million, or six percent of total imports)
• Petroleum and petroleum oils (worth $23 million or five percent of total imports)