Georgia’s foreign trade dropped 24% in January

The Ferro factory in Zestaponi. (Interpressnews.)

TBILISI, DFWatch–Georgia’s foreign trade turnover in January was USD 528 million, a 24 percent drop compared to the same month last year.

According to the new monthly report by the National Statistics Department, GeoStat, export was USD 122 million; a 22 percent reduction since last year, while import amounted to USD 405 million; 25 percent less than last year.

The negative trade balance was USD 238 million, which is 54 percent of the whole trade turnover.

Georgia’s most important trade partners were Turkey – USD 83 million, Russia – USD 54 million and Azerbaijan – USD 53 million. Among the ten most significant trade partners are China, Germany, Armenia, Ukraine, Italy and Brazil.

The most exported products in January was copper ores and concentrates with USD 25 million – 20 percent of export, used cars with USD 12 million – 10 percent of export and nuts with USD 10 million – 8 percent of export.

Petroleum gases and other gaseous hydrocarbons was on the top list of imported products with USD 52 million – 13 percent of import, followed by oil and oil products – USD 32 million – 8 percent less and used cars – USD 28 million, which was 7 percent of the whole import.