Georgia’s Foreign Trade in Jan-June 2018

Georgia’s foreign trade turnover in the first half of 2018 increased by 24.3% year-on-year, reaching USD 6 billion, according to the preliminary figures released by the state statistics office today.

Exports from Georgia increased by 28.5 % year-on-year to USD 1.6 billion, and imports were up by 22.9% y/y to USD 4.4 billion, with trade gap standing at USD 2.8 billion.

Georgia’s trade turnover with the EU-member states stood at USD 1.6 billion in January-June of 2018, which is 25.2% increase over the same period of last year. Exports from Georgia to the EU-member states increased by 21.5% y/y to USD 367.8 million, while imports constituted USD 1.3 billion, which is 26.3% increase y/y.

The share of the EU countries in the foreign trade turnover of Georgia stood at 27.5%, with 23.1% in exports and 29.1% in imports (in 2017, the corresponding figures stood at 27.3%, 24.4% and 28.3%).

Trade turnover with the Commonwealth of Independent States (CIS) increased by 33.9% y/y to USD 2 billion. Georgian exports to CIS countries were up by 50.7% y/y to USD 720.1 million and imports increased by 26.2% to USD 1.3 billion.

The share of the CIS countries constituted 34%, with 45.2% in exports and 30% in imports (31.6%, 38.5 % and 29.2% in January-June 2017, respectively).

Turkey remains Georgia’s largest trading partner with USD 858.1 million in the first six months of 2018, followed by Russia, China and Azerbaijan with USD 650.1 million, USD 510 million and USD 505 million, respectively.

They are followed by Ukraine with total trade turnover of USD 314.4 million; Armenia – USD 291.6 million; United States – USD 256.3 million; Germany – USD 236.6 million; Bulgaria – USD 216.3 million; France – USD 159.1 million.

Russia tops the list of largest trading partners by exports with USD 204.4 million, followed by Azerbaijan, Turkey and Bulgaria with USD 204.3 million, USD 155.3 million and USD 127.6 million, respectively.

Turkey, Russia, China and Azerbaijan are the top trading partners of Georgia in terms of imports with USD 702.8 million, USD 445.7 million, USD 423.6 million and USD 300.7 million, respectively.

Copper ores and concentrates were on top of the list of exports with USD 242.2 million (15.2% of total exports), followed by ferroalloys – USD 186 million (11.7 % of total exports); re-export of motor cars – USD 163.5 million (10.3% of total exports); wine – USD 88.7 million (5.6% of total exports); medicines – USD 64.1 million (4% of total exports); other alcohol and spirits – USD 62 million (3.9% of total exports); mineral waters – USD 54.1 million (3.4% of total exports); cigarettes – USD 53.8 million (3.4% of total exports); nitrogen fertilizers – USD 53 million (3.3% of total exports); gold – USD 40 million (2.5% of total exports); other commodities – USD 586.2 million (36.8% of total exports).

Petroleum and petroleum oils are on top of the list of imports with USD 402 million (9.2% of total imports), followed by cars – USD 272.9 million (6.2% of total imports); copper ores and concentrates – USD 181.2 million (4.1% of total imports); petroleum gases – USD 163.1 million (3.7% of total imports); medicines – USD 155.9 million (3.5% of total imports);  telephone sets – USD 92 million (2.1% of total imports);  turbines – USD 76.2 (1.7% of total imports); automatic data processing machines – USD 74.8 million (1.7% of total imports); cigarettes – USD 63.5 million (1.4% of total imports); wheat – USD 53.3 million (1.2% of total imports); other commodities – USD 2.9 billion (65.1% of total imports).

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