In January-April 2017, both import (12.7%; US$259 mln) and export (29.7%; US$180 mln) volumes have significantly increased.
In this period, according to the trade volume, the top trading partners were Turkey (US$452 mln), Russia (US$341 mln), and Azerbaijan (US$273 mln).
The most exported commodity was copper ores (17.6% of total exports) followed by ferro-alloys (14.0%), motor cars (6.0%), medicaments (5.6%), and natural grape wines (5.6%).
In January-April 2017, the volume of export to Russia significantly increased (131%; US$71.2 mln) and amounted to US$125 mln. The top three exported goods to Russia were ferro-alloys (44% of total exports to Russia), natural grape wines (19%), and mineral waters (12%).
In this period, alongside an increase in exports to Russia, export volumes to other major trade partner countries also rose. Export volumes rose by 5% to China (US$3.8 mln), 19% to Turkey (US$12 mln), 17% to Bulgaria (US$7.9 MLN), and 18% to Armenia (US$7.5 mln).
In January-April 2017, Turkey still remains the main import partner for Georgia. However, import volumes from Turkey has significantly declined (-8%; US$34.6 mln) and amounts to US$376.2 mln. The top three commodities imported from Turkey were medicaments (4.8% of total imports), structures of iron or steel (3.4%), and sanitary-hygienic goods (3.1%).
In this period, the volume of import from other major trade partner countries grew as follows: Azerbaijan by 44% (US$69.7 mln), Russia by 7% (US$13.3 mln), China by 8% (US$12.6 mln), and Germany by 25% (US$28.8 mln).
China’s part in Georgia’s exports has been rising since 2013. It peaked in January-February 2017 – 9.9% of total exports. This trend is likely to continue with the recently signed bilateral free trade agreement between the two nations.
It must be noted that China’s share in Georgia’s total imports has generally been higher than China’s share in Georgia’s total exports. However, since 2014, China’s share in Georgia’s total imports has been decreasing and in January-April 2017 it dropped to 7.1%.
In 2016, 77.7% of exported commodities to China were copper, most of which had been imported from Armenia. Natural grape wine’s share in total exports to China has increased from 0.9% to 8.2% from 2005 to 2016.
The structure of Imports from China is more diverse than the structure of exports. In 2016, the top imported commodity from China was machinery and equipment, making up 20% of total imports. The second largest commodity was electronic machinery, making up 15% of total imports from China.
Source: PMCG
