Export from Georgia to EU Exceeds Export to Russia by $164m

The preliminary data from the National Statistics Office of Georgia (Geostat) reads that in January-June 2018, the export from Georgia to the European Union at $368 million exceeded export to Russia ($204.422 million).

In January-June 2018, the external merchandise trade of Georgia amounted to approximately $5.96 billion, 24.3% higher year-on-year. The exports equaled $1.59 billion (28.5% higher), while the imports stood at nearly $4.39 billion (22.9% higher). The negative trade balance was $2.8 billion and its share in external trade turnover constituted 46.8%. Export excluding re-export amounted to about $1.15 billion, 16.3% higher compared to 2017.

Geostat says in January-June 2018, the external trade turnover of Georgia with the EU countries amounted to $1.64 billion, 25.2% higher compared to the corresponding indicator of the previous year.

Exports amounted to $367.8 million (21.5% higher), while imports were nearly $1.277 billion (26.3% higher).

The share of the EU countries in the external trade turnover of Georgia amounted to 27.5%, 23.1% in exports and 29.1% in imports while 32.5% of the trade deficit came to the EU countries (30.3% in January-June 2017).

In the first half 2018, the external trade turnover of Georgia with the CIS countries totaled $2 037.3 million, higher by 33.9% compared to the January-June 2017.

Exports stood at $720.1 million, 50.7% higher, while imports equaled $1 317.1 million (26.2% higher). The share of the CIS countries in the external trade turnover of Georgia constituted 34%: 45.2% in exports and 30% in imports.  In the given period, CIS countries accounted for 21.3% of the overall trade deficit.

In January-June 2018, the share of the top ten trading partners in the total external trade turnover of Georgia amounted to 66.8%. The top trading partners were Turkey ($858.1 million), Russia ($650.1 million) and China ($510.0 million).

By Thea Morrison