Economy

Georgia’s foreign trade went down 13% in 2015

by | Jan 24, 2016
ferro zestaponi

The Ferro plant in Zestaponi. (Interpressnews.)

TBILISI, DFWatch–Georgia’s foreign trade turnover in 2015 was 13 percent less than in 2014, excluding the unofficial economy.

The trade with other countries amounted to USD 9.928 million, according to preliminary figures from the Georgian National Statistics Office (GeoStat).

The export reached USD 2,204 million; 23 percent less than in 2014. When it comes to import, it amounted to USD 7,724 million, which is 10 percent less than in the year before.

Georgia had a negative trade balance of USD 5,521 million in 2015. This is 56 percent of the total trade turnover.

Over the past four years, 2015 was the least successful in terms of trade turnover. Looking at previous years, the numbers are: In 2014, USD 8.593 million; in 2013, USD 8,012 million; in 2012, USD 8,037; in 2011, USD 7,038 and in 2010, USD 5,257.

The trade between Georgia and EU countries grew by 6 percent in 2015 and amounted to USD 3,165 million, which is 32 percent of the total.

Trade turnover with former Soviet countries in the Commonwealth of Independent States went down by 22 percent compared to 2014, and amounted to USD 2,808 million, which is 28 percent of the trade turnover.

Georgia’s top ten trade partners are Turkey – 15.3 percent, Russia – 7.9 percent, Azerbaijan – 7.2 percent, Ukraine – 5.2 percent, Germany – 5.1 percent, Ireland – 4.6 percent, Bulgaria – 3.8 percent, the US – 3.6 percent and Armenia – 3.5 percent.

The most exported products were copper ore and concentrates, which made up 12 percent of total exports, and ferro-alloys and motor cars accounted for 9 and 8 percent, respectively.

Looking further down the list of top ten export products, nuts is in fourth place with 8 percent, while wine is in seventh place with 4 percent of export.

The top most imported commodities in 2015 were drugs with 10 percent, petroleum and petroleum oils 9 percent and motor cars 6 percent.



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