Page 27 - GEORptJul22

5.1.1 Import/export dynamics
Georgia’s foreign trade deficit $2.73bn in January-May
Month
Export
Import
Turnover
Balance
January
331.3
800.8
1132.2
-469.5
February
429
1018.7
1447.7
-589.6
March
411.4
925.6
1337
-514.2
April
415.7
957
1372.7
-541.3
May
504.4
1119.3
1623.7
-614.9
Year
2091.9
4821.4
6913.3
-2729.5
Georgia's foreign trade increased by 37% y/y to $6.9bn in January-May, according to the express data of the National Statistics Service of Georgia, which was published on June 13 in the Georgian language.
During the reporting period, exports increased by 36.2% to $2.09bn, while imports increased by 37.3% to $4.82bn. The trade deficit was $2.73bn, which is 39.5% of the foreign trade turnover.
Preliminary data - Georgia's foreign trade in 2022 (million USD)
Turkey became Georgia's largest trading partner with $1.02bn, followed by China with $783.1mn, Russia with $764.2mn, Azerbaijan with $539.98mn, and the United States with $435.4mn. Georgia's largest trading partner in terms of exports was China with $362.8mn. It was followed by Azerbaijan with $224.1mn, Russia with $210.3mn, Turkey with $194.6mn and Bulgaria with $176mn.
In terms of imports, Georgia's largest trading partners were Turkey, Russia, China, Azerbaijan and the United States with $830mn, $553.9mn, $420.3mn, $315.9mn and $292.4mn respectively.
In January-May, copper ores and concentrates were the leaders in exports in the largest commodity groups with $465.9mn; it was followed by ferroalloys - $285.7mn; passenger cars - $191mn; nitrogen fertilisers - $152.7mn; natural grape wines – $79.8mn; prepackaged medicines – $43.2mn; mineral and
27 GEORGIA Country Report July 2022 www.intellinews.com