Russia among Georgia’s Top Three Trading Partners

In January-November 2014, Georgia’s foreign trade turnover (excluding non-organized trade) amounted to $ 10.4 billion that is 7% more than in January-November of  the previous year; the exports amounted  to  $ 2.6 billion (0.5% increase) and imports –  $ 7.7 billion (9% increase).

Georgia’s negative trade balance amounted to $ 5.1 billion in January-November 2014 and accounted for 49%  of  the total foreign trade.

In January-November 2014, the foreign trade turnover with EU countries amounted to $ 2.7 billion, that is 4% more compared to the same period of  the previous year,  including  exports-  $ 563 million (5 %more) and imports-  $ 2.1 billion (4% more). The EU countries’ share in  Georgia’s foreign trade turnover accounted for 26%,  including exports – 21% and imports –  28% (in January-November 2013- 27%, 21% and 29% respectively).

The EU countries accounted for 31% of the trade deficit (in January-November 2013- 34%). Foreign trade turnover with CIS countries in January-November 2014 amounted to $ 3.2 billion (4% less than  in January-November 2013), including exports –  1.4 billion (7% less), while imports reached $ 1.9 billion (2% less). CIS countries’ share accounts for 31% of  Georgia’s foreign trade turnover, including exports-  52% and imports –  24% (in January-November 2013, 35%, 56% and 27% respectively).

In January-November 2014, the CIS countries accounted for 10% of the trade deficit (in January-November 2013 – 10%).

In January-November 2014 the share of  ten largest trade partners accounted for 68 percent of Georgia’s foreign trade turnover . Among the  largest trading partners are Turkey ($ 1.8 billion), Azerbaijan ($ 1.1 billion) and Russia ($ 752 million).

In January-November of 2014, export of vehicles  took the  first place in the commodity groups and amounted to  $ 493 million  and 19% of all exports. Exports of ferroalloys amounted to $ 261 million while its share accounted for  10%  of total exports. Exports of   copper ores and concentrates are on the third place and amounted to $ 229 million that is  9% of all exports.

Top import products in January-November 2014 were oil and oil products,  import of which amounted to  $ 834 million or 11% of total imports. Import of  cars is on the second place and  amounted to  $ 655 million or  9% of the total imports. In third place is import of oil gases and gaseous hydrocarbons which totaled $ 313 million (4% of imports).