Georgia’s foreign trade turnover increased 11% year-on-year to USD 10.2 billion in 2012 with the trade gap widening to USD 5.46 billion, a 12.2% y/y increase, according to figures released by the Georgian state statistics office, Geostat, on January 25.

Georgia’s export amounted to USD 2.37 billion in 2012, up by 9% y/y and import was USD 7.84 billion, an 11% increase over 2011.

Georgia’s foreign trade, however, saw 2.8% y/y decline in the last quarter of 2012. Export was at USD 609 million in October-December of 2012, a 4.48% y/y decline and import reduced by 2.3% in the fourth quarter of 2012. It also resulted into a 1.3% y/y decline in trade gap in the last quarter of last year.

Trade with Turkey, which is Georgia’s long-time largest trading partner, accounted USD 1.53 billion in 2012; while import from Turkey amounted to USD 1.39 billion, export from Georgia to Turkey was only USD 142.7 million last year.

Turkey is followed by Azerbaijan with total trade turnover of USD 1.26 billion; Ukraine – USD 764.1 million; China - USD 591.5 million; Germany – USD 580.4 million; Russia – USD 519.6 million; the United States - USD 439.3 million; Bulgaria – USD 341.1 million; Armenia – USD 331.3 million;  Italy – USD 324.3 million.

Re-export of cars amounted to 24.7% of the country's total exports in 2012 with USD 587.3 million, a 30.4% y/y increase.

Ferroalloys made 11% of Georgia’s exports in 2012 with 260.4 million, followed by nitrogen fertilizers with USD 137.2 million (its share in total export was 5.8%); raw or semi-processed gold – USD 87.9 million (3.7%); hazelnut – USD 83.6 million (3.5%); non-denatured ethyl alcohol and spirits – USD 80 million (3.4%).

Georgian wine export increased 19.9% y/y in value to USD 64.8 million in 2012 making its share in country’s total export 2.7%.

The figure is highest since Russia imposed ban on import of Georgian wines in 2006, but it still lags behind the figure posted in pre-embargo year, when value of exported wine was USD 81.3 million in 2005.

Export of mineral waters also increased from USD 47.6 million in 2011 to USD 59.3 million in 2012. Export of copper declined from USD 85.1 million in 2011 to USD 53.5 million in 2012.

Oil products still top the list of imports totaling USD 951 million making its share in total imports 12.1% in 2012; followed by cars with USD 662.7  million (8.5%); hydrocarbons - USD 252.6 million (3.2%); wheat - USD 239.9 million (3.1%); medicines - USD 232.4 million (3%); mobile and other wireless phones - USD 118.8 million (1.5%); computers – USD 104.5 million (1.3%); metal construction materials – USD 92.5 million (1.2%); cigarettes – USD 90.5 million (1.2%); electrical power transformer – USD 88.4 million (1.1%).