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Turkey, Azerbaijan and Russia: Georgia’s top trading partners in January-November 2015

Wednesday, December 23
The first 11 months of the year has seen the value of Georgia’s exports and imports (External Merchandise Trade) decrease year-on-year (y/y), claims the National Statistics Office of Georgia, Geostat.

Between January and November 2015, Georgia’s External Merchandise Trade (excluding non-organised trade) amounted to $8.892 billion USD, according to Geostat data published today.

This was a 14 percent drop compared to the same figures of 2014.

Furthermore, Geostat said the value of the country’s export decreased 23 percent to $2.019 billion USD, while imports dropped by 11 percent to $6.873 billion USD, with respect to January-November of 2014.

The trade deficit equalled $4.854 billion USD, which made up 55 percent of total trade turnover.

Trade with EU countries

In January-November 2015 Georgia's external trade with EU countries amounted to 2.792 billion USD. This was three percent higher compared to the corresponding indicator of the previous year.

Exports were valued at $599 million USD (six percent higher), while imports amounted to $2.192 billion (two percent higher).

EU countries made up 31 percent of Georgia's total external trade; 30 percent in exports and 32 percent in imports. About 33 percent of Georgia's trade deficit came from EU countries.

Trade with CIS countries

In the first 11 months of 2015, the external trade of Georgia with countries in the Commonwealth of Independent States (CIS) totalled $2.509 billion USD. This was 22 percent less that January-November 2014. Exports stood at $764 million USD (44 percent lower), while imports equalled $1.746 million USD (seven percent lower).

CIS countries made up 28 percent of Georgia's total external trade; 38 percent in exports and 25 percent in imports. In January-November 2015, CIS countries accounted for 20 percent of Georgia's overall trade deficit y/y.

Georgia’s top trading partners in January-November 2015

Between January-November 2015 Georgia's top ten trading partners made up 64 percent of the country's total external trade turnover.

Georgia's top trading partners were:

• Turkey ($1.380 billion);

• Azerbaijan ($725 million) and;

• Russia ($675 million).

Major commodity groups by exports and imports

In January-November 2015, copper ores and concentrates reclaimed first place in the list of top exported items, worth $240 million USD or 12 percent of total exports.

Exports of ferro-alloys totalled $186 million USD and made up nine percent of Georgia's total exports.

Motor cars occupied third place. Exports of this commodity group were valued at $167 million USD or eight percent of total exports.

The top commodity imported into Georgia between January-November 2015 was petroleum and petroleum oils. Imports of these products amounted to $608 million USD or nine percent of the total imports.

Medicaments were the next highest imported commodity, reaching $587 million USD, or nine percent of imports.

Motor cars came third, valued at $415 million USD or six percent of imports. (