Economy, News

17% increase in Georgia’s foreign trade Jan-Feb confirmed

by | Mar 24, 2014
bazar tbilisi

Georgia’s foreign trade was 17% higher in the two first months of 2014, compared to 2013, but most of the trade is import. (DF Watch.)

TBILISI, DFWatch–Georgia’s foreign trade turnover January-February, 2014, was USD 1 567 million. This is a 17 percent increase, compared to the same period last year.

Precise figures from Georgian National Statistics Department, GeoStat, show that export accounted for USD 440 million out of the total foreign trade turnover – a 23 percent increase from last year – while import was USD 1,127 million – 15 percent more than last year.

The negative trade balance in January-February was USD 687, which is 44 percent of the whole turnover.

The trade turnover with EU countries in the first two months was USD 394 million, which is 11 percent more than last year. Trade turnover with countries in the Commonwealth of Independent States (CIS) was USD 549 million, 23 percent more than last year.

Georgia’s biggest trade partners are: Turkey with USD 226 million, Azerbaijan with USD 188 million and Russia USD 122 million. Also Ukraine, China, US, Germany, Armenia, Bulgaria and Romania are among Georgia’s top trade partners.

Used cars is still Georgia’s number one export product with USD 77 million. This accounts for 18 percent of all the export.

Second is ferroalloys with USD 57 million, 13 percent of the whole export. This time the grape wine category is in third place with USD 32 million, or 7 percent of the total export.

When it comes to import, oil and oil products is number one in the first two months of 2014 with USD 114 million, 10 percent of whole import.

It is followed by petroleum gases and other gaseous hydrocarbons with USD 92 million, 8 percent of all import, and in third place is used cars with USD 88 million, 8 percent of the total import.



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