TBILISI, DFWatch – Georgia’s National Statistics Department notes growth in the country’s foreign trade turnover in the first half of 2012. Growth is 17 percent more than the same period in 2011 and equals USD 4 866 million.
Georgia is importing more than twice of what it exports. USD 1 140 million out of the total trade is export. This is a 10 percent growth from 2011; and USD 3 725 million is import – 19 percent more than last year.
The negative trade balance is 53 percent of total foreign trade turnover and equals to USD 2 585 million in the period from January to June 2012.
Foreign trade turnover with EU countries is also noted as it has increased 32 percent for the first 6 months and equaled to USD 1 367.
Georgia’s largest trade partner is Turkey with USD 741 million. It is followed by Azerbaijan with USD 606 million and Ukraine with USD 341 million. Among the top ten countries are Germany, China, USA, Russia, Bulgaria, Japan and Italy.
Georgia exports most to Azerbaijan, Armenia and USA, while it imports most from Turkey, Azerbaijan and Germany.
Used cars is Georgia’s number one export product, and the cars are mostly sold to neighboring countries. The value of the car export in first six months of 2012 was USD 261 million, which is 23 percent of the total export.
The number two export product is ferroalloys with USD 120 million – 11 percent of all export. In third place is nitrogenous fertilizers, which accounts for 6 percent of the export.
Oil products remained the number one import product in the measured period, totaling USD 437 million, which is 12 percent of all import. Car import is in second place with USD 331 million – 9 percent of the total import.