Turkey Becomes Georgia's Top Trade Partner in January-March

The preliminary data from the National Statistics Office of Georgia (Geostat) reads that in January-March 2018, Turkey was Georgia’s top trade partner with a total of $404.6 million trade turnover, out of which, $93.539 million was export turnover and $311.028 million – import.

Turkey is followed by Russia (USD 311.1 million) and Azerbaijan (USD 270.2 million). China takes the fourth place in top five trading partners ($202.761mln) followed by Ukraine ($138.898mln).

In January-March 2018 share of the top ten trading partners in the total external trade turnover of Georgia amounted to 67.1%.

According to Geostat, the external merchandise trade of Georgia in Quarter 1, amounted to $ 2 823.8 million, 23.3 % higher than the data of the same period last year.

Geostat says that exports in Q1 equaled $ 740.3 million (28.4 % higher), while imports stood at $ 2 083.4 million (21.6 % higher).

According to the report, in January 2018, the external trade turnover of Georgia with European Union countries amounted to $ 820.1 million, 27.6% more y/y.

Exports to the EU amounted to $ 209.4 million (31.4% higher), while imports stood at $610.7 million (26.4 % higher).

In January –March 2018, the external trade turnover of Georgia with the CIS totaled $976.9 million, up 30% compared to y/y.

Exports to CIS countries stood at $303 million (48% higher), while imports equaled $ 673.9 million, 23.2% higher compared to the same period of 2017.

The share of CIS countries in the external trade turnover of Georgia constituted 34.6 %, 40.9 percent in exports and 32.3 percent in imports. In January-March 2018, compared to the previous year, CIS countries accounted for 27.6 % of the overall trade deficit.

As for Georgia's top exported commodities in January-March 2018, copper ores and concentrates took first place, equaling $118.8 million which is 16% of total exports. Exports of ferro-alloys totaled $ 85.1 million and its share in the total exports amounted to 11.5%. Motor cars were in the third place at $64.9million, 8.8% of the total exports.

The top import commodities in January-March 2018 were Petroleum and petroleum oils imports which amounted to $186.9 million and 9.0 %of the total imports. Petroleum gases commodity group followed in the list with $ 127.4 million, or 6.1 %of imports. Motor cars came third with $118.0 million (5.1 % of imports).

 By Thea Morrison