Page 26 - GEORptOct21

Georgia's top trading partners by exports were China ($370.5mn), Russia ($322.7mn) and Azerbaijan ($295.3mn), while top trading partners by imports were Turkey ($917.4mn), Russia ($545.3mn) and China ($459.4mn).
The top trading partners in the total external trade of Georgia were Turkey ($1.10bn), Russia ($868mn) and China ($829.9mn).
The top three export items were copper ores and concentrates ($465.9mn, 20.5% of total exports) motor vehicles ($248.3mn, 10.9% of total exports) and ferro-alloys ($228.5mn, 10% of total exports).
The top import commodities were motor vehicles ($461.8mn, 8.9% of total imports), petroleum and petroleum oils ($405mn, 7.8% of total imports), and copper ores and concentrates ($395.6mn, 7.6% of total imports).
5.1.1 Import/export dynamics
Georgian domestic exports up 26% in Jan-Aug
Georgia’s exports up 30% year-on-year in June
Georgia exported locally produced goods worth $2.61bn in January-August, marking a 26% increase year-on-year, the National Statistics Office of Georgia (Geostat) announced.
“The share of domestic exports (export of locally produced goods and services, including those of foreign origin that have been substantially changed through local processing) in total exports constituted 72.7% or $1.89bn, 28.7% higher than the same period in 2020", said Geostat.
Georgia’s top trading partners were China ($400.1mn), Russia ($344.1mn), and Turkey ($200.8mn).
Also in January-August, copper ores and concentrates were the top export items, equalling $517.9mn, or 27.3% of total exports.
The exports of ferroalloys totaled $265.5mn and their share in total exports amounted to 14%. Exports of wine of fresh grapes occupied third place, standing at $143.7mn and constituting 7.6% of total exports.
Georgia's exports rose by nearly one-third year-on-year in June, while PPI for industrial goods rose 15%, Galt&Taggart reported.
In June, exports growth came in at 30.1% y/y to US$ 349.3mn after growing by 44.8% y/y in the previous month (notably, exports were up by 12.5% compared to June 2019). Imports increased by 37.5% y/y to US$ 837.2mn, after a 41.2% y/y growth in previous month (notably, imports were up 13.4% compared to June 2019). As a result, the trade deficit widened by 43.3% y/y to US$ 487.9mn in June.
Overall, in 1H21, the trade deficit was up by 14.5% y/y to US$ 2.4bn, as exports increased by 25.2% y/y to US$ 1.9bn (up 5.3% compared to 1H19) and imports increased by 18.9% y/y to US$ 4.3bn (down 1.5% compared to 1H19).
Annual PPI for industrial goods was up 15.7% in June 2021 from 15.5% in previous month, according to Geostat. Price changes in manufacturing (+15.5% y/y) and electricity, gas, steam and air conditioning (+20.5% y/y) contributed the most to the overall index change.
26 GEORGIA Country Report October 2021 www.intellinews.com