January-February 2019: Georgia’s external trade with EU up 6.3%, with CIS up 2.8%

January-February 2019: Georgia’s external trade with EU up 6.3%, with CIS up 2.8%

Georgia is increasing its role as an important trade partner the Commonwealth of Independent States (CIS), while trade turnover with the European Union decreased this year.

In January-February 2019, trade turnover with EU countries decreased by 6.3% (amounted to $422.4 million) and with CIS countries by 2.8% year-on-year (y/y) (amounted to $627.7 million), show the latest data published by the National Statistics Office of Georgia (Geostat).

In the reporting period export from Georgia to the EU countries amounted to $118.2 million (10.7% lower compared to January-February 2018), while imports amounted to $304.2 million (4.5% lower).

In January-February 2019 export to the CIS countries stood at $254.8 million (45.7% higher compared to January-February 2018), while imports equalled $372.9 million (14.4 percent lower).

Overall, Georgia’s top 10 trade partners in January-February 2019 made for 69.7% of the country’s total trade turnover, with Turkey ($233.6 million), Russia ($203.6 million) and Azerbaijan ($184.4 million) filling the top three spots.

What are Georgia’s main exports?

Georgia’s top exported commodities in January-February 2019 were:

  • Copper ores and concentrates (worth $78.3 million, or 15.5% of total exports)
  • Motor cars (worth $56.1 million, or 11.1% of total exports)
  • Ferro-alloys (worth $51.2 million, or 10.1% of total exports)

What are Georgia’s main imports?

Georgia’s top imported commodities were:

  • Petroleum and petroleum oils (worth $101.2 million, or 8.2% of total imports)
  • Petroleum gases (worth $88.7 million, or 7.2% of total imports)
  • Copper ores and concentrates (worth $71.9 million or 5.8% of total imports)

Overall, Georgia’s external trade grew by 3.6% in January-February 2019 and reached $1.73 billion, said Geostat.

In the reporting period the value of Georgian exports increased by 13.2% to $505 million, while the value of imports also increased 0.1% to $1.23 billion with respect to January-February 2018.

img

admin

Related posts

Georgian Honey to Fully Satisfy Quality Standards Soon

Georgia’s honey exports have declined, year on year. As reported by Geostat, the national...

Continue reading
by admin

Europe’s Biggest Solar Panels Manufacturing Plant Opens at HUALING Free Industrial Zone

The Europe’s biggest solar panels manufacturing company has launched operation in Hualing Free...

Continue reading
by admin

EBRD Allocated Additional Fund for Reconstruction of Enguri HPP

The European Bank for Reconstruction and Development (EBRD) is allocating €10 million for the...

Continue reading
by admin

Join The Discussion