Georgia’s trade with EU worth $1.16 billion in Jan-May 2016

The value of Georgia’s imports and exports (External Merchandise Trade) in the first five months of this year exceeded four billion dollars, while Georgia’s external trade turnover with European Union (EU) countries exceeded 1.1 billion dollars, says the National Statistics Office of Georgia (Geostat).

The statistics agency has released updated preliminary information about the value of the country’s imports and exports between January and May 2016. The data showed Georgia’s External Merchandise Trade in the first five months of 2016 was $4.07 billion – a three percent increase year-on-year(y/y).

In the reporting period, the value of Georgia’s exports equalled $780 million – a 12 percent drop y/y – while the value of goods imported into Georgia equaled $3.29 billion; an eight percent increase y/y.

Geostat claimed that in the first five months of 2016, Georgia’s external trade turnover with EU countries amounted to $1.16 billion. This was a two percent decrease compared to the same time in 2015.

From this $1.16 billion, Georgia’s exports were worth $185 million (24 percent lower y/y), while imports were valued at $980 million (four percent increase y/y).

In January-May 2016 the external trade turnover of Georgia with the Commonwealth of Independent States (CIS) totalled $953 million. This was 16 percent lower compared to the same time in 2015, said Geostat.

From this $953 million, Georgia’s exports were worth $236 million – a 30 percent drop y/y – while import equalled $717 million, which was a nine percent decrease.

In January-May 2016 Georgia’s top ten trading partners made up 68 percent of the country’s external trade turnover, said Geostat.

Georgia’s top trading partners were:

Turkey- $621 million (15.3% share of total turnover);

Canada- $458 million (11.3% share of total turnover);

Russia- $322 million (7.9% share of total turnover);

China- $281 million (6.9% share of total turnover);

Ireland- $228 million (5.6% share of total turnover);

Azerbaijan- $225 million (5.5% share of total turnover);

Germany- $175 million (4.3% share of total turnover);

Ukraine- $159 million (3.9% share of total turnover);

Armenia- $145 million (3.6% share of total turnover);

Italy- $131 million (3.2% share of total turnover). (Agenda.ge)