Economy
Posted: 3 years ago

Exports See 5.9% Plunge, Imports Shrink 1.4%

In January-March 2020, Georgia’s foreign trade turnover (without undeclared trade) constituted $2 773.9 million, down 2.7% year on year.

According to Geostat, the National Statistics Service of Georgia, exports marked $778.2 million, down 5.9%, while imports constituted $1 995.8 million, down 1.4%. Georgia’s negative trade balance totalled $1 217.6 million, that is, 43.9% in foreign trade turnover.
 
In the reporting period the ratio of top 10 exports countries in Georgia’s total exports made up 77.9%. Top 3 countries are: Azerbaijan ($121.9 million), China ($99.9 million) and Russia ($91.2 million).
 
At the same time, the ratio of top 10 importer countries in Georgia’s total imports made up 69.8%, including Turkey ($348.3 million), Russia ($210.1 million) and Azerbaijan ($184.3 million).
 
“In January-March 2020 the ratio of top 10 trade partner countries in Georgia’s total foreign trade turnover marked 71.1%. Major trade partners are: Turkey ($402.2 million), Azerbaijan ($306.2 million) and Russia ($301.4 million).
As for exports and imports items in the reporting period, copper ores and concentrates rank first in exports with $159 million, light vehicles rank second with $127.9 million (16.4% in total exports) and ferroalloys rank third with $58.2 million (7.5%).
 
As for major imports items, automobiles rank first with $173.8 million (8.7%), oil and oil products rank second with $150.4 million (7.5%) and oil gas ranks third with $135.5 million (6.8%).