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Georgia's 2011 Foreign Trade Up 36%
Civil Georgia, Tbilisi / 26 Jan.'12 / 13:38

Georgia’s foreign trade turnover amounted to USD 9.24 billion in 2011, 36% increase from year earlier with trade deficit widening to USD 4.86 billion, 32% increase year-on-year, according to figures released by Georgian state statistics office, Geostat, on January 24.
 
Exports reached USD 2.19 billion in 2011, up 39% y/y and imports rose 34% y/y, totaling USD 7.05 billion.

In overall from 147 countries with which Georgia traded in 2011 it had positive balance with 32 countries. Armenia is the only country among Georgia’s top ten trading partners with whom Georgia had a positive trade balance (USD 163.95 million) last year.

Turkey remains Georgia’s largest trading partner with total turnover increasing from USD 1.1 billion in 2010 to USD 1.5 billion in 2011.

Azerbaijan follows next with total trade turnover of USD 1.03 billion in 2011; Ukraine – USD 846.8 million; China – USD 553.6 million; Germany – USD 529.6 million; Russia – USD 426.3 million (export to Russia amounted to USD 36.6 million and imports from Russia totaled USD 389.7 million); the U.S. – USD 389.2 million; Bulgaria – USD 349.2 million; Armenia – USD 282.1 million; the United Arab Emirates – USD 266.4 million.

Re-export of cars amounted to 21% of the country's total exports in 2011 with USD 450 million, followed by ferroalloys with USD 255 million, making its share in total export 12%; nitrogen fertilizer - USD 144 million (7%); nuts – USD 130 million (5.9%); scrap metal - USD 116.8 million (5.3%); raw or semi-processed gold – USD 109.8 million (5%); copper – USD 85.1 million (3.9%); non-denatured ethyl alcohol – USD 67.8 million (3.1%); reinforcing bar for construction (rebar) – USD 61 million (2.8%); wine – USD 54.1 million (2.5%).

The fastest growth rate in exports in 2011 had nuts (103% y/y increase); nitrogen fertilizers (100% y/y increase) and cars (98% y/y increase), according to Geostat figures.

Oil products topped the list of imports totaling USD 910.9 million making its share in total imports 12.9%; followed by cars with USD 510.5 million (7.2%); hydrocarbons - USD 236.6 million (3.4%); medicines - USD 201.3 million (2.9%); wheat - USD 184.2 million (2.6%); mobile and other wireless phones - USD 133.6 million (1.9%); metal construction materials – USD 102 million (1.4%); sugar – USD 89.7 million (1.3%); cigarette – USD 86.7 million (1.2%).

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