Georgia’s External Merchandise Trade in January-November up by 18.6%

National Statistics Office of Georgia (Geostat) reports in January-November 2018 the external merchandise trade of Georgia amounted to $11 324.7 million, 18.6 percent higher compared to the same period of last year.

The exports equaled $3 033.5 million (24.0 percent higher), while the imports stood at $8 291.2 million (16.8 percent higher).

The negative trade balance was $5 257.7 million in January-November 2018 and its share in external trade turnover constituted 46.4 percent.

The exports excluding re-exports amounted to $2 086.7 million, 11.1 percent higher year-on-year.

In 11 months of 2018, the exports from Georgia to the EU countries amounted to $658.9 million (12.0 percent higher compared to the January-November 2017) and constituted 21.7 percent in total exports, while the imports amounted to $2 356.3 million (18.4 percent higher) with 28.4 percent in total imports.

The external trade turnover of Georgia with the EU countries amounted to $3 015.2 million, grew by 16.9 percent compared to the corresponding indicator of the previous year. 32.3 percent of the trade deficit came to the EU countries.

In January-November 2018 the exports to the CIS countries stood at $1 490.0 million (44.0 percent higher compared to the January-November 2017) and reached 49.1 percent of total exports, while the imports equaled $2 452.6 million (18.9 percent higher) with 29.6 percent in total import. The trade turnover with the CIS countries totaled USD 3 942.7 million (higher by 27.3 percent). The CIS countries accounted for 18.3 percent of the overall trade deficit in the corresponding period.

In January-November 2018 the share of the top ten trading partners by exports in the total exports of Georgia amounted to 72.2 percent. The top trade partners were Azerbaijan ($435.8 million), Russia ($393.6 million) and Armenia ($ 260.0 million).

In January-November 2018 the share of the top ten trading partners by imports in the total imports of Georgia amounted to 65.1 percent. The top partners were Turkey ($ 1 334.0 million), Russia ($861.3 million) and China ($776.9 million).

In 11 months of 2018, the share of the top ten trading partners in the total external trade turnover of Georgia amounted to 66.1 percent. The top trading partners were Turkey ($1 550.9 million), Russia ($1 254.9 million) and China ($967.0 million).

Copper ores and concentrates reclaimed the first place in the list of top export items, equaling $461.4 million, or 15.2 percent of total exports. The exports of motor cars totaled $356.6 million and their share in the total exports amounted to 11.8 percent. The ferroalloys exports occupied the third place standing at $318.8 million and constituting 10.5 percent of the total exports.

The top import commodities in January-November 2018 were petroleum and petroleum oils whose imports equaled $794.4 million (9.6 percent of the total imports). The motor cars followed in the list with $533.1 million, or 6.4 percent of imports. The copper ores and concentrates were third in the top import commodity list with $378.7 million (4.6 percent of imports).