Georgia is increasing its role as an important trade partner for the European Union (EU), the Commonwealth of Independent States (CIS) and other countries.
In January-July trade turnover with EU countries increased by 25.6% YoY, to $1.95 billion, and with CIS countries by 33.5%, to $2.38 billion, says the National Statistics Office of Georgia (Geostat).
In the reporting period export from Georgia to the EU countries amounted to $417.7 million, while imports amounted to $1.53 billion.
In January-July export to the CIS countries stood at $872.9 million and reached 46.7% of total exports, while imports equaled $1.51 billion with 29.2% in total import.
Overall, Georgia’s top 10 trade partners in January-July made for 66.4% of the country’s total trade turnover, with Turkey ($1 billion), Russia ($760.9 million) and China ($611.7 million) filling the top three spots.
Georgia’s top exported commodities in January-July were: copper ores and concentrates (worth $278.1 million, or 19.1% of total exports), ferroalloys (worth $205.9 million, or 14.2% of total exports) and motorcars (worth $203.1 million, or 14% of total exports).
Georgia’s top imported commodities were: petroleum and petroleum oils (worth $489.3 million, or 9.4% of total imports), motorcars ($335.3 million, 6.5%) and copper ores and concentrates ($218 million, or 4.2%).
Overall, Georgia’s external trade grew by 24.4% YoY in January-July and reached $7.05 billion, says the National Statistics Office of Georgia (Geostat).
In the first seven months of 2018 the value of Georgia’s exports increased by 28.8%, to $1.87 billion, while the value of imports grew by 22.9%, to $5.18 billion. (Agenda/Business World Magazine)