Georgia’s Foreign Trade Up 36% in Q1
Georgia’s foreign trade grew 36% year-on-year to USD 1.86 billion in the first quarter of 2011 with the trade gap widening to USD 934 million – up by 36% y/y, according to figures released by the state statistics office, Geostat, on April 26.
Export amounted to USD 464 million in January-March up by 35% y/y and import was USD 1.39 billion up by 36% over the same period of the last year.
Turkey remains Georgia largest trading partner with USD 286 million, followed by Ukraine with USD 204 million; Azerbaijan – USD 192.8 million; China – USD 102.4 million; Germany – USD 98.3 million; U.S. – USD 90.2 million; Russia – USD 83.3 million; Armenia – USD 61 million; Bulgaria – USD 55.1 million; United Arab Emirates – USD 51.8 million.
Re-export of vehicles amounted to 21% of the country’s total exports in the first quarter of 2011 with USD 95.1 million, followed ferro-alloys with USD 54.3 million; nitrogen fertilizer – USD 40.7 million; scrap metal – USD 37.9 million.
Oil products topped the list of imports totaling USD 169.5 million; followed by hydrocarbons with USD 85.9 million; vehicles – USD 82.2 million; wheat – USD 48.7 million; medicines – USD 44.9 million; mobile and other wireless phones – USD 32.2 million.
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