Issue 94: External Trade, January-April, 2017

In January-April 2017, compared to the corresponding period of last year:

• Both, export (29.7%) and import (12.7%) volumes increased;
• Turkey was the leading trade partner of Georgia (14.6% of total trade turnover);
• The proportion of EU countries in total trade turnover reached 27%;
• The volume of export to Russia significantly increased (131%);
• Of Georgia’s exports, 9.9% went to China.

Source: National Statistics Office of Georgia

In January-April 2017, both import (12.7%; US$259 mln) and export (29.7%; US$180 mln) volumes have significantly increased.

In this period, according to the trade volume, the top trading partners were Turkey (US$452 mln), Russia (US$341 mln), and Azerbaijan (US$273 mln).

The most exported commodity was copper ores (17.6% of total exports) followed by ferro-alloys (14.0%), motor cars (6.0%), medicaments (5.6%), and natural grape wines (5.6%).

In January-April 2017, the volume of export to Russia significantly increased (131%; US$71.2 mln) and amounted to US$125 mln. The top three exported goods to Russia were ferro-alloys (44% of total exports to Russia), natural grape wines (19%), and mineral waters (12%).

In this period, alongside an increase in exports to Russia, export volumes to other major trade partner countries also rose. Export volumes rose by 5% to China (US$3.8 mln), 19% to Turkey (US$12 mln), 17% to Bulgaria (US$7.9 MLN), and 18% to Armenia (US$7.5 mln).

Source: National Statistics Office of Georgia

Source: National Statistics Office of Georgia

In January-April 2017, Turkey still remains the main import partner for Georgia. However, import volumes from Turkey has significantly declined (-8%; US$34.6 mln) and amounts to US$376.2 mln. The top three commodities imported from Turkey were medicaments (4.8% of total imports), structures of iron or steel (3.4%), and sanitary-hygienic goods (3.1%).

In this period, the volume of import from other major trade partner countries grew as follows: Azerbaijan by 44% (US$69.7 mln), Russia by 7% (US$13.3 mln), China by 8% (US$12.6 mln), and Germany by 25% (US$28.8 mln).

Source: National Statistics Office of Georgia

China’s part in Georgia’s exports has been rising since 2013. It peaked in January-February 2017 – 9.9% of total exports. This trend is likely to continue with the recently signed bilateral free trade agreement between the two nations.

It must be noted that China’s share in Georgia’s total imports has generally been higher than China’s share in Georgia’s total exports. However, since 2014, China’s share in Georgia’s total imports has been decreasing and in January-April 2017 it dropped to 7.1%.

Source: National Statistics Office of Georgia

Source: National Statistics Office of Georgia

      Source: National Statistics Office of Georgia                                                                                                                   *Preliminary Data
                    National Bank of Georgia
                    Ministry of Finance of Georgia