Georgia-China free trade agreement came into force on January 1. As a result, 94% of Georgian products were exempted from customs taxes on Chinese market.
Georgia exports wines, nuts, honey, mineral waters, beer, soft drinks, juices, vegetable, fruits, chocolate products, tea, fish and other marine products, cereals, cables, plastic products, various nitric and mineral fertilizers, washing machines, locomotives and so on.
According to Geostat, national statistics service of Georgia, Georgia’s exports to China in the first quarter of 2018 made up 20.4 million USD, which is an extremely lowered figure compared to 2017. Namely, in the first quarter of 2017 Georgia’s exports to China constituted 49.3 million USD.
Ores and copper concentrates constitute a major ratio in Georgian exports items for China. Exports of the mentioned three product categories to China made up 12.6 million USD in January to March 2018. Wines rank second with 3.2 million USD. Medical and veterinary devices and equipments are third with 2.8 million USD.
It is noteworthy that major decline was seen for ores and copper concentrates exports. Namely, exports of the mentioned products to China in 2017 made up 41.3 million GEL, contrary to 12.6 million USD in 2018.
Wine exports have also declined and made up 3.8 million USD in the first quarter of 2017, while the figure marked 3.2 million USD in the first quarter of 2018.
Chinese imports to Georgia has increased year to year and it made up 182.3 million USD, as compared to 126.5 million USD in the same period of 2018.
In Georgia China mainly exports computing machines and their blocks. Their imports in January to March 2018 made up 14 million USD.