Turkey, Russia, Azerbaijan Georgia’s Top Trading Partners in January-February 2022
By Natalia Kochiashvili
Tuesday, March 22, 2022
The National Statistics Office (Geostat) released the preliminary data on Georgia’s foreign trade in January-February 2022. According to the information, in that period, Georgian external trade turnover equalled $2.5 billion, which is an increase of 49.3% year-on-year.
The value of exports grew by 54.5% and equalled $760.4 million in the reporting period, while imports also increased by 47.2%, reaching $1.7 billion. Trade deficit, a measure of the negative balance of trade in which imports exceed exports, amounted to $1 billion, and the share in trade turnover added up to 40.2%.
According to Geostat, in January-February of this year, the share of the 10 largest trading partners in the total foreign trade turnover of Georgia amounted to 67.3%. The largest trade partners of the country in total external trade turnover are Turkey - $354.4 million, Russia - $274.6 million and Azerbaijan - $248.8 mln.
Georgia's top partners by exports in January-February 2022 were China which ranks first in the top three largest exports with $95.4 million, Russia is in second place - $92.9 million, and Azerbaijan - $92.3 mln, while the top markets by imports were Turkey ($295.5 million), Russia ($181.8 million) and Azerbaijan ($156.5 million).
The top three export items were as follows: Copper ores and concentrates - $156.2 million (+65.4%), Ferro-alloys - $100.4 million (+92.7%), Motor cars - $72.5 million (+45.3%)
The top import commodities were the following: Petroleum and petroleum oils - $162.6 million (+94.6%), Copper ores and concentrates - $153.8 million (+159.1%), Motor cars - $133.9 million (-8.9%).
Georgia has exported locally produced goods worth $760.4 million in January-February 2022, which is 54.5% higher year-on-year. Local exports in the country accounted for 73.1% of total exports in the reporting period, amounting to $555.8 million, 51.7% higher compared to January-February 2021.
Georgia’s top trading partners were: China - $90 million, Bulgaria - $83.7 million, Russia - $80.2 million, Turkey - $55.9 million, The United States - $39.2 million.
The five largest domestic export goods of Georgia are as follows: Copper ores and concentrates - $156.3 million (+65.4%), Ferro-alloys - $100.5 million (+92.7%), Nitrogenous fertilizers - $58.2 million (+214.3%), Wine of fresh grapes - $33.2 million (+43.9%), Natural or artificial mineral and aerated waters - $23.3 million (+26.6%)
The largest increase in January-February 2022 was recorded in the export of nitrogenous fertilizers - with a 214.3% increase - and in the export of precious metal ores and concentrates - which totalled $10.5 million, amounting to a 101.2% increase year-on-year.
Reduction was registered in the export of hazelnuts and other nuts, which totalled $13 million in January-February 2022, marking a 17.3% decrease year-on-year.
