Export to EU Down by 10.7% in January-February

The National Statistics Office of Georgia (Geostat) reports that export from Georgia to the European Union reduced by 10.7% while it increased by 45% to the CIS countries.

According to Geostat, in January-February 2019 the exports from Georgia to the EU countries amounted to $118.2 million (10.7 % lower compared to January-February 2018) and constituted 23.4 percent of total exports, while the imports amounted to $ 304.2 million (4.5 %lower) with 24.6 percent in total imports.

The exports to the CIS countries stood at USD 254.8 million (45.7 percent higher compared to January-February 2018) and reached 50.4 percent of total exports, while the imports equaled USD 372.9 million (14.4 percent lower) with 30.2 percent in total import. The CIS countries accounted for 16.2 percent of the overall trade deficit in the corresponding period.

As for the total merchandise trade of the mentioned period, it amounted to $1 739.8 million, 3.6 percent higher year-on-year.

The total exports equaled $505.0 million (13.2 percent higher), while the imports stood at USD 1 234.8 million (0.1 percent higher). The negative trade balance was $ 729.8 million in January-February 2019 and its share in external trade turnover constituted 41.9 percent. The exports excluding re-exports amounted to USD 342.6 million, 5.2 percent higher year-on-year.

In January-February 2019 the share of the top ten trading partners by exports in the total exports of Georgia amounted to 73.7 percent.

The top export partners were Russia (USD 81.3 million), Azerbaijan (USD 58.4 million) and Turkey (USD 39.6 million).

The top three countries are followed by Ukraine, Armenia, Bulgaria, Romania, China, the United States, and Germany.

In January-February 2019 the share of the top ten trading partners by imports in the total imports of Georgia amounted to 69.6 percent. The top partners were Turkey (USD 194.0 million), China (USD 142.0 million) and Azerbaijan (USD 126.0 million).