Foreign Trade Up by 40%
Georgia’s foreign trade turnover was worth over USD 6.456 billion in 2007, a 39.9% increase on the prvious year, the Department of Statistics said on January 25.
Exports reached USD 1.24 billion, up 32.5%, while imports rose by 41.8%, totally USD 5.216 billion.
The share of trade with Commonwealth of Independent states is 36%, down from 38.8%. EU member states account for 28%.
Trade with Georgia’s main trading partner – Turkey – exceeded USD 899.6 million last year, The comparative figure for 2006 was USD 645.8 million.
With Ukraine soaking up most of the Georgian wine and spirits traditionally destined for Russia, it is now Georgia’s second largest trading partner, replacing Russia, with USD 669 million. Russia comes third with USD 631.8 million, which is only 0.4% less than in 2006.
Other key trading partners of Georgia include: Azerbaijan with USD 519.3 mln – 8%; Germany with USD 443.5 mln – 6.9%; the United States with USD 353.4 mln – 5.5%; Bulgaria with USD 243.4 mln – 3.8%, the United Arab Emirates with USD 233.3 mln – 3.6% and China with USD 215 mln – 3.3%.
Ferro-alloys constitute the number one Georgian export, followed by ferrous metal scrap and copper. Oil products and hydrocarbons, followed by vehicles, medicines and wheat top the list of imports.
