June 19, 2024 - The South Caucasus News - SouthCaucasusNews.com

On June 19, the National Statistics Service of Georgia (Geostat) published preliminary data indicating that in January-May 2024, Georgia’s foreign trade decreased by 2.2% compared to the same period of 2023, totaling $8.432 billion in value.

In January-May 2024, exports from Georgia decreased by 9.2% to $2.274 billion, while imports increased by 0.7% to $6.158 billion. As a result, the country’s negative trade balance was $3.884 billion, representing 46.1% of its foreign trade turnover.

Source: Geostat

In the same period, Turkey was Georgia’s largest trade partner with $1.254 billion in trade volume, followed by Russia with $1.004 billion, China with $692 million, United States with $500 million, and Azerbaijan with $422 million.

During the reporting period, Kyrgyzstan was Georgia’s largest trade partner in exports with $360 million, followed by Kazakhstan with $275 million, Russia with $273 million, Azerbaijan with $254 million, and Armenia with $225 million.

In terms of imports, Georgia’s largest trading partners were Turkey with $1.078 billion, Russia with $731 million, the United States with $601 million, China with $578 million, and Germany with $402 million.

Source: Geostat

In January-May 2024, the largest commodity groups in exports were led by motor cars – $740 million. Then come: wine of fresh grapes – $141 million; ferro-alloys – $106 million; spirituous beverages – $104 million; precious metal ores and concentrates – $73 million; natural or artificial mineral and aerated waters, not containing added sugar – $65 million; nitrogenous fertilizers – $53 million; medicaments put up in measured doses – $46 million; waters, mineral and aerated waters, containing added sugar – $45 million; gold unwrought or in semi-manufactured forms, or in powder form – $41 million; other commodities – $860 million.

As for imports, the major commodity groups here are motor cars – $967 million; petroleum and petroleum oils – $514 million; medicaments put up in measured doses – $266 million; petroleum gases and other gaseous hydrocarbons – $216 million; automatic data processing machines and units thereof – $140 million; telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) – $124 million; motor vehicles for the transport of goods – $83 million; bars and rods of iron or non-alloy steel – $64 million; structures and parts of structures of iron or steel – $55 million; cigars, cheroots, cigarillos and cigarettes – $52 million; other commodities – $3.677 billion.

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