Georgia’s foreign trade turnover was USD 1.33 billion in the first two months of 2013, a 2% year-on-year decline, according to data released by the state statistics office, Geostat, on Monday.

There was a 17% y/y increase in export, which reached USD 358.4 million in January-February; but imports declined by 8% y/y in the first two months of this year to USD 975.1 million; trade gap was USD 616.7 million, a 18% y/y decline.

Imports of oil and oil products; vehicles and hydrocarbons, which make top the list of imported products, declined by 11.6%, 23.5% and 18.5%, respectively, in January-February.

Export of ferroalloys and nitrogen fertilizers, which are among top three exported products, increased 66.1% and 94.2%, respectively in January-February and re-export of cars increased 34.1% y/y in the first two months of 2013.