Georgia’s Trade Turnover Increases with EU, Decreases with CIS Countries
Georgia’s trade turnover with EU countries increased by 6% compared to 2014 and amounted to $3 billion. The volume of exports increased by 4% amounting to $646 million, while imports has increased by 6% and amounted to $2,518,000,000.
The share of the EU in Georgia’s foreign trade turnover has increased from 26% to 32% in a year.
There is an opposite trend in the trade with the CIS countries, where the turnover decreased by 22% in a year and amounted $2,808,000,000. Exports decreased by 43%, to $840 million, while imports decreased by 7%, to $1,968,000,000. The share of trade turnover with the CIS countries was reduced from 31% to 28%.
The largest exports go to Bulgaria from the EU, worth $214 million, Germany is in second place, worth $76 million, Italy ($74 million) then Spain ($42 million). As for imports the leaders are: Ireland ($456 million), Germany ($431 million), Romania ($207 million), Italy ($196 million) and Bulgaria ($168 million).
Georgia's largest trading partner is still Turkey, where exports decreased by 22% in 2015 compared to 2014, and amounted to $186 million, while imports - by 23% ($1,331,000,000).
Russia is in second place, where exports have decreased by 41% ($163 million) while imports have increased by 9% ($626 million).
Exports to Azerbaijan halved in one year, amounting to $240 million. Imports decreased by 15%, or $543 million.
Total foreign trade turnover in 2015 fell by 13% and amounted to $9,928,000, whereas exports decreased by 23% to $2,204,000,000 while imports decreased by 10% to $7,724,000,000. The trade deficit amounted to 56% of turnover, a decrease of 6% compared to 2014.
Sources: preliminary statistics by geostat.ge