WASHINGTON: Georgia’s foreign trade turnover in the first nine months of 2017 increased by 12.1%, compared to the same period of last year, reaching USD 7.56 billion, according to the preliminary figures released by the state statistics office, Geostat, on October 19. Exports from Georgia increased by 28.3% year-on-year to USD 1.94 billion and imports were up by 7.4% y/y to USD 5.62 billion in January-September, with trade gap standing at USD 3.68 billion. Trade turnover with the EU-member states stood at about USD 2.06 billion in the first nine months of this year, 5.6% increase compared to the same period of last year. Exports from Georgia to the EU-member states increased by 18.9% y/y to USD 462 million, while imports constituted USD 1.6 billion in the first nine months of 2017, which is 2.3% higher y/y.
Trade turnover with the Commonwealth of Independent States (CIS) increased by 31.2% y/y in January-September to USD 2.42 billion. Georgian exports to CIS countries were up by 59% y/y to USD 784.4 million and imports increased by 21% to USD 1.64 billion in the first nine months of this year. The share of the EU countries in the foreign trade turnover of Georgia stood at 27.3%; 23.8% in exports and 28.5% in imports (last year the corresponding figures stood at 29%, 25.7% and 29.9%). The share of the CIS countries constituted 32.1%, 40.5% in exports and 29.2% in imports (27.4%, 32.7% and 25.9% last year, respectively). Turkey remains Georgia’s largest trading partner with USD 1.11 billion in the first nine months of 2017, followed by Russia, China and Azerbaijan with USD 806 million, USD 640 million and USD 567 million, respectively, according to Civil.Ge. They are followed by Ukraine with total trade turnover of USD 387 million; Armenia – USD 361 million; Germany – USD 346 million; the United States – USD 294 million; Bulgaria – USD 248 million; Italy – USD 204 million.
