GeoStat Report on External Merchandise Trade of Georgia in 2019
The National Statistics Office of Georgia published their annual summery report on Monday, January 20. The document reads that in 2019, the external merchandise trade (excluding non-declared trade) of Georgia equalled $3.77 billion. The number is 12.4% higher than last year’s percentage.
“In 2019, Georgia’s external merchandise trade (excluding non-declared trade) amounted to $12 834.7 million, 2.7% higher year-on-year. Including exports, it totals $3.77 billion (up 12.4% y-o-y), while imports stood at $9,063.2 million (0.8% lower),” reads the report.
Last year, motor cars reclaimed the first place in the list of top export items, equalling $686.7 million or 18.2% of total exports. The exports of copper ores and concentrates totalled $651.6 million and their share in the total exports amounted to 17.3%. Ferro-alloys exports occupied third place at $303.0 million and constituting 8.0% of the total exports.
The top import commodities in 2019 were petroleum and petroleum oils, whose imports equalled $757.0 million (8.4% of the total imports). Motor cars followed on the list at $53.7 million, or 7.2% of imports. Copper ores and concentrates were third in the top import commodity list, at $603.7 million (6.7% of imports).
The report also highlighted Georgia’s top partners in trade. In 2019, the share of the top ten trading partners by imports in the total imports of Georgia amounted to 65.8%. The top partners were Turkey ($1 613.7 million), Russia ($975.9 million) and China ($858.7 million).
“In 2019, the exports from Georgia to EU countries amounted to $825.7 million (13.0% higher compared to 2018) and constituted 21.9% of total exports, while imports amounted to $2,321.5 million (7.4 % lower) at 25.6% of total imports.
The external trade turnover of Georgia with EU countries amounted to $3,147.2 million, showing a 2.8% decrease compared to the corresponding indicator of the previous year.
The EU countries accounted for 28.3% of the trade deficit. In 2019, the exports to the CIS countries stood at $2 003.1 million (20.0% higher compared to 2018) and reached 53.1% of total exports, while the imports equalled $2,438.6 million (9.5% lower) at 26.9% of total imports.
“The trade turnover with the CIS countries totaled $4,441.6 million (1.8% higher). The CIS countries accounted for 8.2% of the overall trade deficit in the corresponding period,” the report reads.
The negative trade balance was $5,291.8 million in 2019 and its share in external trade turnover constituted 41.2%. The exports, excluding re-exports, amounted to $2,352.3 million, 5.7% higher year-on-year.
About GEOSTAT
The National Statistics Office of Georgia, also known as GeoStat, is a legal entity of public law, and it carries out its activities independently. It is an institution established to produce statistics and disseminate statistical information according to Georgian legislation. GeoStat is established by the Law of Georgia, issued on 11 December 2009, on Official Statistics.
Historically, the entity dates back to over a century ago, last summer seeing it celebrate 100 years. On July 25, 1919, under the Law adopted by the Constituent Assembly, the Central Statistical Committee of the Republic was set up at the Ministry of Agriculture. The Committee was tasked to manage all the statistical works of state significance.
By Nini Dakhundaridze
Image source: geostat.ge