Azernews.Az

By Mushvig Mehdiyev

Georgia’s foreign trade turnover enjoyed a positive trend in the first eleven months of 2014. During the mentioned period, with a 7 percent increase year by year, the country’s trade turnover reached $10.3 billion.

Figures released by State Statistics Office Geostat on December 24 showed that the country’s exports increased by 0.5 percent to reach $2.62 billion, while its imports rose by 9 percent to stand at $7.7 billion over the same period. Furthermore, the trade gap was 49 percent or $5.1 billion in the total trade turnover.

The statistics data also revealed that Georgia's foreign trade with the European Union’s countries has seen a 4 percent increase. This comes as the figure decreased by 4 percent in trade deals with member-states of the Commonwealth of Independent States.

Georgia’s foreign trade with the EU countries includes 26 percent of Georgia’s total foreign trade during the first eleven months of 2014.

The latest year-on-year figures showed a 4 percent increase in trade deals with the EU countries to amount at $2.7 billion, while the export and import deals of the country with Europe rose by 5 and 4 percent respectively.

Georgia’s trade with CIS countries stood at $3.2 billion for the first eleven months of this year, decreasing by 4 percent. Exports to CIS states went down by 7 percent, since the imports hit low by 2 percent.

The share of CIS countries in Georgia’s external trade decreased by 4 percent to constitute 31 percent of the overall volume.

During January-November of 2014, Georgia’s top three trading partners were Turkey, Azerbaijan and Russia.

Georgia’s largest trading partner, Turkey, generated a total turnover of $1.7 billion, being ahead of Azerbaijan’s $1.07 billion and Russia’s $752 million.

Azerbaijan, Armenia and Russia were Georgia’s largest export markets over the reported period. Exports to Azerbaijan downed from 24.7 percent to 19.4. It was calculated at $510 million compared to the same period of 2013.

Meanwhile, Georgia’s exports to Armenia decreased by 0.8 percent. Its exports to Russia increased by 3.5 percent during the same period.

Re-export of cars remained to be Georgia’s largest export commodity leaving behind the ferroalloys. Copper ores and concentrates were the third most exported goods from Georgia. Wine ranked fourth widespread product in exports.

Meanwhile, petroleum and petroleum oils, motor cars, petroleum gases and other kind of gases were the major imported goods to Georgia in 2014.