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In January-October Exports Slip 16% with EU, Drops 19% with CIS

In January-October 2016 Georgia’s foreign trade turnover (excluding non-declared trade) made up 9956 million USD, up 22% year on year; According to Geostat, National Statistics Service of Georgia, exports marked 1701 million USD, down 7% year on year, and imports constituted 8256 million USD, up 31% year on year.

It is worth noting that in the reporting period the country imported medications against Hepatitis C, without which the imports totaled 5859 million USD, down 2% year on year. Georgia’s negative trade balance in January to October period marked 6555 million USD, that is 66% of foreign trade turnover. In the same period, the exports, without re-exports, marked 1332 million USD.

In January-October 2016 Georgia’s foreign trade turnover with EU countries made up 2828 million USD, up 10% year on year, including exports totaled 453 million USD, down 16% and imports marked 2375 million USD, up 17% year on year.

Ratio of the mentioned countries in foreign trade turnover made up 28%, including 27% in exports and 29% in imports (32, 29 and 32% ratio in January-October 2015, respectively).

Ratio of EU countries in trade deficit made up 29% (33% in January-October 2015). Foreign trade turnover with CIS countries made up 2126 million USD in January-October 2016 (down 6% year on year).

Including exports constituted 571 million USD, down 19%, and imports totaled 1554 million USD, down 0.3%. Ratio of CIS countries in foreign trade turnover made up 21%, including ratio in exports totaled 34% and in imports in 19% (28, 38 and 25% in January-October 2015).

Ratio of CIS countries in trade deficit totaled 15% in January-October 2016 (19% in January-October 2015).