Georgia Is Strengthening Trade Relations

Georgia is strengthening its trade relations with the European Union (EU), the Commonwealth of Independent States (CIS) and other countries.

In January-May 2018, trade turnover with European Union (EU) countries increased by 23% year-on-year (y/y) and amounted to $1.34 billion, shows the datafrom the National Statistics Office of Georgia (Geostat). Exports were worth $295.7 million (13.7% higher), while imports reached $1.04 billion (25.9% higher).

The share of the EU countries in the external trade turnover of Georgia amounted to 27.4% - 23% in exports and 29% in imports.

In January-May 2018, the external trade turnover of Georgia with the Commonwealth of Independent States (CIS) countries totalled $1.67 billion – 32.6 percent higher compared to January-May 2017.Exports were worth $584 million (52.3% higher) while imports equalled $1.09 million (24% higher).

Turkey, Russia and Azerbaijan are Georgia’s top trade partners in January-May 2018, said Geostat.

Last month Georgia’s top 10 trade partners made for 66.6% of the country’s total trade turnover, with Turkey ($714.8 million), Russia ($548.2 billion) and Azerbaijan ($430.5 million) filling the top three spots.

By Shawn Wayne