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In January-February, Exports Decreased by 26%

In January-February2015, Georgia’s foreign trade turnover (excluding non-organized trade) amounted to  $ 1 433 million, which is 9 percent less than in the previous year; from here exports totaled $ 324 million (26 percent decline)  and imports-  $ 1 109 million (2 percent decline). According to data provided by the  Statistic Service, Georgia’s negative trade balance amounted to $ 786 million in January-February of 2015 and  made 55 per cent of foreign trade.

In January-February 2015,  Geiorgia’s  foreign trade turnover with EU countries amounted to $ 385 million, which is 2 percent less than the previous year’s figure. Exports totaled $ 108 million (9 percent increase), while imports –  $ 277 million (6 percent decline). These countries accounted for 27 percent of Georgia’s foreign trade turnover, including 33 percent of exports and 25 percent of imports ( in January-February 2014 25.22 and 26 percent respectively).

According to reports, the EU countries accounted for 22 percent of the trade deficit (28 percent in January-February 2014). Foreign trade turnover with the  CIS countries amounted to $ 429 million in January-February 2015 (23 percent less compared to January 2014). From here exports totaled $ 110 million  (53 percent decline), while imports – $ 319 million  (1 percent decline). Georgia’s foreign trade turnover with the CIS countries accounted for 30 percent,  including 34 percent in exports and 29 percent  in imports  (in January-February 2014 35.53 and 28 percent respectively). In January-February 2015 the CIS countries accounted for 27 percent of the trade deficit (in January-February 2014- 13 percent).

According to the data, in January-February 2015 the share of Georgia’s ten largest trade partners made 67 percent of foreign trade turnover. Among the largest trading partners are  Turkey ( $ 224 million), Azerbaijan ($ 147 million) and China ($ 112 million).

In January-February 2015, export of vehicles took first place again in commodity groups and amounted to  $ 41 million  that is  13 percent of total  exports. Hazelnut and other nut exports amounted to $ 41 million that is  13 percent of total exports. The ferroalloys group moved into the third place. This group’s export amounted to  $ 34 million and made 11 percent of all exports.