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Georgia-EU Trade Is Up By 38%: Report Shows

In 2016, export from Georgia to the EU has diminished, as well as the CIS countries. According to Geostat, foreign trade turnover with the EU has made up 532 million dollars during the first 2 months of this year, which is 38% more, compared to the same period of last year.

Export volume is reduced by 28% and the figure amounts to 77 million USD. Import has been 454 million, more by 63%.

The share of EU countries in Georgia’s foreign trade turnover has made up 38%, at that export – 28% and import – 40%. As for CIS countries – foreign trade turnover of these countries totaled to 353 million USD through January – February, 2016 (less by 18% comparing to 2015). At that, export – 74 million USD (less by 33%), while import – 279 million USD (less by 12%).

The share of the CIS countries in Georgia’s foreign trade turnover has been 25%, at that export -26% and import – 25%. To remind, Georgia’s foreign trade turnover has made up 1,413 billion USD in January -February, 2016, which is less by 2% comparing to the same period of the previous year; at that, export – 281 million USD (by 13% less), while import – 1,132 billion USD (more by 1%).

Georgia’s negative trade balance has made up 852 million USD in January – February, 2016 and 60% of foreign trade turnover.