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Georgia’s Foreign Trade Up 49.3% in January-February

Georgia’s foreign trade turnover in the first two months of 2022 amounted to USD 2.54 billion – a 49.3% spike compared to the same period last year, according to preliminary estimates released by the National Statistics Office (Geostat) on March 21.

Exports increased by 54.5% year-over-year to USD 760.4 million, while imports went up 47.2%, reaching USD 1.78 billion. The trade deficit stood at USD 1.02 billion, making up 40.2% of the trade turnover in January-February 2022.

Source: Geostat

Turkey topped the list of Georgia’s largest trading partners by turnover, with USD 354.4 million, followed by Russia — USD 274.6 million, Azerbaijan — USD 248.8 million, China — USD 238.4 million, and Bulgaria — USD 124.7 million.

China was Georgia’s largest trading partner by exports with USD 95.4 million, followed by Russia — USD 92.9 million, Azerbaijan — USD 92.3 million, Bulgaria — USD 83.8 million and Turkey — USD 58.9 million.

Turkey, Russia, Azerbaijan, China, the U.S. and  were the top trading partners of Georgia in terms of imports, with USD 295.5 million, 181.8 million, USD 156.5 million, USD 143 million, and USD 72.4 million, respectively.

Source: Geostat

Copper ores and concentrates headed the list of export commodities in January-February 2022 with USD 156.3 million. It was followed by ferroalloys — USD 100.5 million; cars — USD 72.6 million; nitrogen fertilizers — USD 58.2 million; wine or fresh grapes — USD 33.2 million; mineral waters — USD 23.3 million; medicines — USD 20.2 million; spirits — USD 17.6 million; gold — USD 13.4 million; nuts — USD 13.3 million; other commodities — USD 251.8 million.

Petroleum oils were first on the list of import items with USD 162.7 million, followed by copper ores and concentrates — USD 153.9 million; cars — USD 134 million; petroleum gases — USD 119.3 million; medicines — USD 52.6 million; telephone sets — USD 47.2 million; automatic data processing machines — USD 32.2 million; electricity — USD 21.6 million; manganese ores and concentrates — USD 14.7 million; flat-rolled products of iron or non-alloy steel – USD 14.6 million; other commodities – USD 1.03 billion.

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