Foreign Trade in January-July, 2017. Geostat.

Georgia’s foreign trade turnover in the first seven months of 2017 increased by 13%, compared to the same period of last year, reaching USD 5.67 billion, according to the preliminary figures released by the state statistics office, Geostat, on August 21.

Exports from Georgia increased by 28.9% year-on-year to USD 1.44 billion and imports were up by 8.5% y/y to USD 4.22 billion in January-July, 2017 with trade gap standing at USD 2.78 billion.

Trade turnover with the EU-member states stood at about USD 1.54 billion in the first seven months of this year, an 11% increase compared to the same period of last year.

Exports from Georgia to the EU-member states increased by 33.6% y/y to USD 339 million, while imports constituted USD 1.2 million in the first seven months of 2017, which is 6% higher y/y.

Trade turnover with the Commonwealth of Independent States (CIS) increased by 30.7% y/y in January-July 2017 to USD 1.8 billion. Georgian exports to CIS countries were up by 59.4% y/y to USD 570.3 million and imports increased by 20.7% to USD 1.23 billion in the first seven months of this year.

Shares of import and export by country groups in January-July, 2017. Geostat.

The share of the EU countries in the foreign trade turnover of Georgia stood at 27.2%; 23.4% in exports and 28.4% in imports (last year the corresponding figures stood at 27.7%, 22.6% and 29.1%).

The share of the CIS countries constituted 31.9%, 39.4% in exports and 29.3% in imports (27.5%, 31.9% and 26.3% last year, respectively).

Turkey remains Georgia’s largest trading partner with USD 858.7 million in the first seven months of 2017, followed by Russia, China and Azerbaijan with USD 605 million, USD 481 million and USD 425 million, respectively.

They are followed by Ukraine with total trade turnover of USD 271 million; Germany – USD 265 million; Armenia – USD 263 million; the United States – USD 223 million; Bulgaria – USD 184 million; Italy – USD 155 million.

Russia tops the list of largest trading partners by exports with USD 214 million, followed by Turkey and China with USD 138 million and USD 129 million, respectively. Turkey, Russia, China and Azerbaijan are the top trading partners of Georgia in terms of imports with USD 720 million, USD 390 million, USD 352 million and USD 319 million, respectively.

Copper ores and concentrates were on top of the list of exports in the first seven months of 2017 with USD 243 million (16.8% of total exports), followed by ferroalloys – USD 182 million (12.6% of total exports); re-export of motor cars – USD 102 million (7.1% of total exports); wine – USD 83 million (5.8% of total exports); medicines – USD 78 million (5.4% of total exports); non-denatured ethyl alcohol and spirits – USD 58 million (4.1% of total exports); mineral waters – USD 54 million (3.7% of total exports); nitrogen fertilizers – USD 41 million (2.9% of total exports); raw or semi-processed gold – USD 41 million (2.9% of total exports); hazelnuts – USD 31 million (2.2% of total exports); other commodities – USD 528 (36.5% of total exports).

Oil and oil products remain on top of the list of imports with USD 354 million, followed by cars – USD 261 million; medicines – USD 196 million; petroleum gases – USD 194 million; copper ores and concentrates – USD 186 million; mobile and other wireless phones - USD 108 million; wheat – USD 53 million; automatic data processing machines – USD 47 million; trucks – USD 40 million; structures and parts of structures of iron – USD 40 million; other commodities – USD 2.7 billion.