Economy, News

Georgia’s trade turnover grows 15 percent Jan.-Oct. 12

by | Nov 27, 2012

TBILISI, DFWatch — Georgia increased its foreign trade turnover with 15 percent in the first ten months of 2012.

In plain numbers it totaled USD 8 521 million. Out of this, export was USD 1 985 million, while import was USD 6 536 million.

The country’s negative trade balance was USD 4 551 million, which is 53 percent of the foreign trade turnover.

There has been a trend of growing trade deficit, from USD 2 711 in 2009 to USD 4 551 million today; as well as increased import, from USD 4 151 million in 2009 to USD 6 536 million now. The USD export rates haven’t significantly increased in those four years: In 2009 it was USD 1 324 million, while now it is USD 1 985 million.

Georgia’s foreign trade turnover with EU countries in January to October 2012 was USD 2 333 million, 20 percent more than the same period in 2001, but the export was 3 percent less than last year. Turnover with EU countries made up 27 percent of Georgia’s total foreign trade turnover.

Turkey, Azerbaijan and Ukraine remain top partner countries of Georgia, followed by Germany, China, Russia, US, Bulgaria, Italy and Armenia.

Used cars is the top export product of Georgia, making up 24 percent of the whole exports – USD 484 million. It is followed by ferro-alloy products – 12 percent – and nitrogenous fertilizers – 6 percent.

Oil products is the most imported – 12 percent of the whole import totaling USD 794 million, followed by cars – 8 percent and wheat – 3 percent.



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