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Georgia’s Exports Reach $1,459m in Eight Months of 2015

In January-August of 2015 external merchandise trade (excluding non-organized trade) in Georgia amounted to USD 6395 million, 14 percent decreased year-on-year.

The exports equaled USD 1459 million (24 percent lower), while the imports stood at USD 4937 million (10 percent lower). The negative trade balance was USD 3478 million in January-August of 2015 and its share in external trade turnover constituted 54 percent. The charts below reflect basic trends of the external trade of Georgia for 2010-2015:

Georgia’s trade with EU countries

In January-August 2015 the external trade of Georgia with European Union (EU) countries amounted to $1,982 million, up two percent compared to the same time in 2014. Exports amounted to $413 million (one percent higher) while imports amounted to $1,569 million (two percent higher).

The share of EU countries in the external trade of Georgia amounted to 31 percent; 28 percent in exports and 32 percent in imports. Thirty three percent of Georgia’s trade deficit came from EU countries.

Georgia’s trade with CIS countries

Georgia’s external trade with countries from the Commonwealth of Independent States (CIS) totalled $1,791 million in January-August 2015, which was a decrease of 23 percent y/y.

Exports stood at $556 million (45 percent lower) while imports equalled $1,235 million (six percent lower). The share of CIS countries in Georgia’s external trade constituted 28 percent; 38 percent in exports and 25 percent in imports.

Meanwhile CIS countries accounted for 20 percent of the overall trade deficit Georgia between January-August 2015.

Georgia’s top 10 trading partners

In the first eight months of the year Georgia’s top 10 trading partners took up a 64 percent share of total external trade turnover.

In this time Georgia’s top trading partners were Turkey ($988 million), Azerbaijan ($530 million) and China ($476 million).

Major commodity groups by exports and imports

In January-August 2015 copper ores and concentrates reclaimed first place as the most exported item, equalling $172 million or 12 percent of total exports. Exports of ferro-alloys totalled $149 million, giving it a 10 percent share of total exports. Motor cars occupied third place at $125 million and nine percent of total exports.

The top imported product between January-August 2015 was petroleum and petroleum oils. Georgia imported $443 million worth of this commodity, which was nine percent of the total imports.

Medicaments were the next most imported commodity group at $428 million, or nine percent of imports, followed by motor cars came with $317 million, which occupied six percent of imports.