Georgia's Export to EU Decreased by 35% in Q1 2016
In January-March 2016, Georgia's exports to countries of the European Union (EU) decreased by 35 percent compared to the same period of the previous year and amounted to USD 111 million, while imports increased by 28 percent and amounted to USD 601 million, according to the preliminary data of the National Statistics Office of Georgia.
The external trade turnover of Georgia with the EU in January-March 2016 amounted to USD 712 million, growing by 11 percent compared to the same period of the previous year. The share of these countries in the external trade turnover of Georgia amounted to 33 percent: 25 percent in exports and 35 percent in imports.
The external trade turnover of Georgia with the Commonwealth of Independent States (CIS) countries decreased by 15 percent compared to January-March 2015 and amounted to USD 574 million. Exports decreased by 26 percent and stood at USD 129 million, while imports decreased by 11 percent and equalled USD 445 million.
The share of the CIS countries in the external trade turnover of Georgia constituted 27 percent: 29 percent in exports and 26 percent in imports.
Copper ore and concentrates reclaimed the first place in the list of top export items, equalling USD 84 million, or 19 percent of total exports.
Exports of Motor cars totalled USD 38 million and its share in the total exports amounted to 9 percent. Other nuts, fresh or dried occupied third place. Exports of this commodity group stood at USD 33 million and 7 percent of the total exports.
The top import commodity in January-March 2016 were medicaments, which amounted to USD 260 million and 15 percent of the total imports. Petroleum gases and other gaseous commodity group followed in the list with USD 124 million, or 7 percent of imports. Motor cars came third with USD 99 million (6 percent of imports).
In January-March 2016 share of the top ten trading partners in the total external trade turnover of Georgia amounted to 68 percent. The top trading partners were Turkey (USD 342 million), Ireland (USD 210 million), Russia (USD 185 million) and China (USD 169 million).
Ana Akhalaia