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Import and Export decreases in Georgia in first seven months of this year

By Tatia Megeneishvili
Monday, August 24
In the first 7 months of 2015, foreign trade decreased by 14% compared with the same period of last year. This information was spread by the National Statistic Office of Georgia (GEOSTAT) on August 21.

According to GEOSTAT, in January-July of 2015 external merchandise trade (excluding non-organized trade) in Georgia amounted to 5, 573 million dollars. The exports equaled 1, 269 million Dollar (24% lower), while the imports stood at 4, 305 million dollars (11% lower).

As the statement reads, the negative trade balance was 3, 036 million dollars and its share in external trade turnover constituted 54%.

According to GEOSTAT, the external trade of Georgia with the EU countries amounted to 1, 724 million Dollars, up by 2% compared to the corresponding indicator of the previous year. Exports amounted to 340 million dollars (0.4% lower), while imports amounted to 1, 383 million dollars (3% higher). The share of these countries in the external trade of Georgia amounted to 31%, 27% in exports and 32% in imports (in January-July 2014 26, 21 and 28% correspondingly). 34% of the trade deficit came to the EU countries (32% in January-July 2014).

According to GEOSTAT, the external trade of Georgia with the Commonwealth of Independent States (CIS) countries totaled 1, 557 million dollars (lower by 23% compared to January-July 2014). Exports stood at 492 million dollars (44% lower), while imports equaled 1, 065 million dollars (6% lower). The share of the CIS countries in the external trade of Georgia constituted 28%, 39% in exports and 25% in imports (In January-July 2014 31, 53 and 24%, respectively). In January-July 2015, compared to the corresponding period of the previous year, CIS countries accounted for 19% of the overall trade deficit (8% in January-July 2014).

As the statement reads, share of the top ten trading partners in the total external trade turnover of Georgia amounted to 64%. The top trading partners were Turkey (870 million dollars), Azerbaijan (468 million dollars) and China (421 million dollars).

According to GEOSTAT, copper ores and concentrates reclaimed the first place in the list of top export items, equaling 149 million dollars, or 12% of total exports. Exports of Ferro-alloys totaled 130 million dollars, and its share in the total exports amounted to 10%. Motor cars occupied the third place. Exports of this commodity group stood at 110 million Dollars and 9% of the total exports.

In addition, the top import commodity was medicaments, imports of which amounted to 406 million Dollars and 9% of the total imports. The petroleum and petroleum oils commodity group followed in the list with 371 million Dollars, or 9% of imports. Cars came third with 280 million dollars (7% of imports).