Georgia’s Foreign Trade in H1 2012

Georgia’s foreign trade turnover increased 17% year-on-year to USD 4.86 billion in the first half of 2012 with trade deficit widening 24.15% y/y in the same period, according to figures released by the Georgian state statistics office, Geostat, on July 24.

The value of imports climbed 19% y/y in the first six months of this year to USD 3.72 billion and exports rose 10% to USD 1.14 billion.
 
The trade gap widened to USD 2.58 billion in the first half of 2012, from USD 2.08 billion in the same period of last year, according to Geostat.

Georgia’s trade turnover with members of Commonwealth of Independent States (CIS) increased 5% y/y in the first half of 2012 reaching USD 1.48 billion making its share in Georgia’s foreign trade 31% down from 34% in the same period of last year.

Trade turnover with the EU-member states increased to USD 1.36 billion in the first half of 2012, up 32% y/y, making its share in Georgia’s total foreign trade 28% – the same as in the first six months of last year.
 
Turkey remains Georgia’s largest foreign trade partner with USD 741.2 million, followed by Azerbaijan – USD 605.7 million; Ukraine – USD 340.9 million; Germany – USD 324.9 million; China – USD 294.7 million; the United States – USD 222.6 million; Russia – USD 214.7 million; Bulgaria – USD 170.2 million; Japan – USD 148.5 million; Italy – USD 142.1 million.

Re-export of cars amounted to 22.9% of the country’s total exports with USD 260.9 million in the first half of 2012, followed by ferroalloys with USD 119.8 million, making its share in total export 10.5%; nitrogen fertilizer – USD 65.7 million (5.8%); nuts – USD 54.4 million (4.8%); non-denatured ethyl alcohol and spirits – USD 39.6 million (3.5%); copper – USD 38.3 million (3.4%); raw or semi-processed gold – USD 36 million (3.2%); scrap metal – USD 35.3 million (3.1%); mineral waters – USD 30.4 million (2.7%); wine – USD 25.5 million (2.2%).

Oil products topped the list of imports totaling USD 437.3 million making its share in total imports 11.7%; followed by cars with USD 331.1 million (8.9%); hydrocarbons – USD 145.7 million (3.9%); medicines – USD 105.6 million (2.8%); wheat – USD 84 million (2.3%); electrical transformers – USD 59.9 million (1.6%); mobile and other wireless phones – USD 52.4 million (1.4%); computers – USD 49.4 million (1.3%); metal construction materials – USD 47.9 million (1.3%); cigarettes – USD 39 million (1%).

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