Georgia’s foreign trade turnover in the first nine months of 2016 declined by 4.3% year-on-year to USD 6.7 billion, excluding one-off import of USD 2.39 billion worth donated C hepatitis medicines, according to the figures released by the state statistics office, Geostat, on Wednesday.
Exports from Georgia declined 8% y/y to USD 1.51 billion and imports were down by 3% y/y to USD 5.19 billion (excluding one-offs) in January-September, 2016 with trade gap narrowing just slightly to USD 3.68 billion.
Trade turnover with the EU-member states stood at about USD 1.93 billion (excluding one-off imports of medicines) in the first nine months of this year, a 2.6% decline compared to the same period of last year.
Exports from Georgia to the EU-member states declined by 17% y/y to USD 389 million and imports were up by 1.8% y/y to USD 1.55 billion (excluding one-off imports of medicines from Ireland) in the first nine months of 2016.
Trade turnover with Commonwealth of Independent States (CIS) declined by 8% y/y in January-September 2016 to USD 1.86 billion. Georgian exports to CIS countries were down by 22% y/y to USD 495 million and imports declined by 2% to USD 1.37 billion in the first nine months of this year.
One-off import of C hepatitis medicines worth USD 1.78 billion pushed Canada on top of Georgia’s trading partners, but after excluding these one-off imports, Turkey remains Georgia’s largest trading partner with USD 1.14 billion in the first nine months of 2016, a 2.7% increase over the same period of last year.
Exports to Turkey declined by 2.4% y/y to USD 142.6 million and imports from Turkey were up by 3.5% y/y to USD 997.8 million in the first nine months of this year.
Ireland comes third in terms of Georgia’s largest trading partner, but that’s because of one-off import of C hepatitis medicines from that country, which was worth USD 615.25 million in the first nine months of this year.
Georgia’s trade turnover with Russia stood at USD 612.27 million with exports increasing by 17.9% y/y to USD 132 million and imports up by 14.7% y/y to USD 480.2 million in January-September, 2016.
Russia is followed by China with trade turnover in the first nine months of this year reaching USD 551.6 million (3.1% y/y increase).
Exports to China increased by 59.1% y/y to USD 138.9 million (which is more than exports in Russia) and imports were down by 7.7% y/y to USD 412.7 million in January-September, 2016.
China is followed by Azerbaijan with total trade turnover of USD 415.1 million (29.7% y/y decline); Germany – USD 354.1 million (1.8% y/y decline); Ukraine – USD 327.9 million (12.3% y/y decline); Armenia – USD 276 million (2.8% y/y increase); Italy – USD 239.6 million.
Copper ores and concentrates were on top of the list of exports in the first nine months of 2016 with USD 242.5 million (30.3% increase), followed by re-export of cars – USD 120.9 million (14.1% y/y decline); ferroalloys – USD 120.4 million (24.1% y/y decline); hazelnut – USD 116.3 million (2% y/y increase); wine – USD 74.3 million (13.4% y/y increase); medicines – USD 72.88 million (25.1% y/y decline); raw or semi-processed gold – USD 62.4 million (35.2% y/y increase); non-denatured ethyl alcohol and spirits – USD 60.7 million (38.6% y/y increase); mineral waters – USD 58.4 million (4.1% y/y decline); nitrogen fertilizers – USD 53 million (39.6% y/y decline).
Oil products remain on top of the list of imports (excluding one-off imports of medicines) with USD 412.4 million, followed by cars – USD 338.1 million; hydrocarbons – USD 195.6 million; medicines – USD 193.42 million (the figure does not include donated C hepatitis medicines worth USD 2.39 billion in the first nine months of this year); copper ores and concentrates – USD 192 million; mobile and other wireless phones – USD 114.2 million; structures and parts of structures of iron – USD 74 million; cigarettes – USD 72.6 million; wheat – USD 62.4 million; taps, valves and appliances for pipes – USD 53.8 million.
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