Page 27 - GEORptSep21

5.0 External Sector & Trade
5.1 Balance of payments, current account
Georgia - External Trade 2014 2015 2016 2017 2018 2019 2020* Jan-Jul 2021*
External trade turnover ($ mn)
11,463 9,505 9,459 10,802 12,741 13,318 11,396 7,481.5
Export (FOB) ($ mn)
2,861 2,205 2,117 2,746 3,380 3,798 3,343 2,275.6
Import (CIF) ($ mn)
8,602 7,304 7,342 8,057 9,362 9,519 8,053 5,206.0
Trade Balance ($ mn)
-5,741 -5,100 -5,225 -5,311 -5,982 -5,721 -4,709 -2,930.0
Export excluding re-export ($ mn) (Domestic export)
1,819 1,603 1,620 2,008 2,226 2,324 2,408 1,662.8
Source: Geostat
Georgia’s external trade up 21.7% in Jan-July
Georgia’s external trade turnover amounted to $7.48bn in January-July, marking a 21.7% increase y/y, according to preliminary data from the National Statistics Office of Georgia (Geostat).
The value of exports increased 27.8% and totalled $2.27bn, while imports expanded 19.3%, amounting to $5.20bn.
The trade deficit amounted to $2.93bn, 39.2% of total trade turnover.
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).
27 GEORGIA Country Report September 2021 www.intellinews.com