Economy

Georgia’s foreign trade Jan-Feb down 2%

by | Mar 25, 2016
Rustavi_car_market_-_rustavi.ge_Cropped

Rustavi used car market. (Rustavi.ge.)

TBILISI, DFWatch–Georgia’s foreign trade turnover in the first two months of 2016 was 2 percent less than last year, totaling USD 1,413 million.

According to a new monthly report by the National Statistics Department (GeoStat), export was down 13 percent to USD 281 million, while import was one percent down to USD 1,132 million, compared to the first two months of 2015.

There was a negative trade balance of USD 852 million in January and February, which is 60 percent of the total foreign trade turnover.

Trade with EU member states increased by 38 percent to USD 532 million. While export went down 28 percent, import grew 63 percent.

Trade with former Soviet countries in the Commonwealth of the Independent States went down 18 percent to USD 353 million. Export fell 33 percent while import went down 12 percent, compared to 2015.

Copper ores and concentrates are at the top of the list of most exported products, accounting for 20 percent of the export. Next are used cars with 8 percent and nuts with 7 percent of the export.

21 percent of the import was drugs, followed by petroleum gases and gaseous hydrocarbons group with 8 percent and oil and oil products 6 percent.

In January and February this year, Georgia’s most important trade partners were Ireland, Turkey, Russia, China, Azerbaijan, Germany, Ukraine, Armenia, Italy and Bulgaria.

Trade turnover with Ireland was 14.8 percent of the total turnover. Turkey accounted for 14.1 percent and Russia 8.3 percent.



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