Georgia’s foreign trade turnover in the first two months of 2021 was USD 1.7 billion – a decline of 12% compared to the same period last year, according to preliminary data released by the National Statistics Office (Geostat) on March 19.
Exports decreased by 6.8% year-on-year to USD 494.7 million, while imports were down by 14.1%, reaching USD 1.16 billion. Meanwhile, the trade deficit stood at USD 664.6 million, constituting 40.2% of the trade turnover in January-February 2021.
Turkey topped the list of Georgia’s largest trading partner by turnover, with USD 248.5 million in January-February 2021, followed by Russia, China, Azerbaijan, and the U.S. with USD 202.7 million, USD 193.7 million, USD 167 million, and USD 98.4 million, respectively.
Russia was Georgia’s largest trading partner by exports with USD 71.1 million, followed by Azerbaijan, China, Turkey, and Ukraine with USD 66.4 million, USD 53.8 million, USD 45.2 million, and USD 40 million, respectively.
Turkey, China, Russia, Azerbaijan, and the U.S. were the top trading partners of Georgia in terms of imports, with USD 203.3 million, USD 139.9 million, USD 131.6 million, USD 100.6 million, and USD 81.6 million, respectively.
Copper ores and concentrates were on top of the list of export commodities in January-February with USD 94.5 million, followed by ferroalloys with – USD 52.1 million; cars – USD 50 million; wine – USD 26 million; nitrogen fertilizers – USD 18.5 million; mineral waters – USD 18.4 million; spirits – USD 18.3 million; nuts – USD 16.3 million; medicines – USD 9.2 million; gold – USD 8.8 million; other commodities – USD 182.4 million.
Cars topped the list of import commodities in Georgia’s foreign trade with USD 98.2 million, followed by petroleum gases – USD 90 million; petroleum oils – USD 83.5 million; copper ores and concentrates – USD 59.4 million; moving, grading, extracting, or boring machinery – USD 40.8 million; medicines – USD 39.5 million; vehicles for the transport of goods – USD 29 million; mobile phones – USD 24.7 million; electricity – USD 17.6 million; wheat and meslin – USD 15.9 million; other commodities – USD 660.7 million.
Also Read:
- Georgia’s Foreign Trade in January 2021
- Georgian Central Bank Increases Key Rate to 8.5%
- Geostat: Annual Inflation 3.6% in February
- 2020 FDI in Georgia USD 616.9 Mln, Down by 52.9%
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