Car re-export tops Georgian export
31 March, 2011
Car re-export tops Georgian export

Georgian foreign trade [non-organized trade excluded] accounted for USD 1137 million in January-February of 2011, which translates into 40% of growth compared to the data of similar period of 2010, Georgian statistics organization informs.

Out of this figure export makes up USD 294 million [36% of growth] and import amounts to USD 843 million [41% of growth].


The negative trade balance in the reported period accounted for USD 549 million which by 44% exceeds the data of similar period of 2010. Trade

turnover with the EU countries accounted for USD 293 million in January of 2011 that exceeds the data of past year by 40%.
USD 60 million out of the figure is export [by 14% more] and USD 233 million is made by import [49% growth compared to the January-February of 2010].
Share of EU countries make 26% in entire foreign trade turnover of Georgia including 20% in export and 28% in import [the similar data equaled to 26%, 24% and 26% respectively in January-February of 2010].  And 32% of trade deficit of Georgia comes with the EU countries [it was 27% in 2010].
Countries of the Commonwealth of the Independent States (CIS) make USD 375 million in Georgian foreign trade turnover [it by 46% exceeds the similar data of 2010]. USD 105 million out of the figure comes to export [49% of growth] and USD 270 million is import [45% of growth].
Share of CIS countries in Georgian foreign trade cuts 33% including 36% in export and 32% in import [data of similar period of 2010 were 32%, 33% and 31% respectively]. CIS countries make 30% of Georgian trade deficit [it stood at 30% in 2010].
Top ten trade partners of Georgian made 65% of its entire trade turnover in this past January. Turkey [by USD 183 million] is top trade partner, Azerbaijan [making USD 116 million of Georgian trade turnover] is a runner up, and Ukraine [by USD 110 million] is number three top trade partner. 
First ever in Georgian history cars lead the list of top ten product exported by Georgia. It became possible thanks to intensified re-export of cars implemented through Georgia from the west to east. Car re-export made USD 53 million that makes 18% of the entire export.
“We do not produce cars but we became kind of hub for motor car re-export,” Vera Kobalia, Minister of Economy of Georgia, accentuated during her report made at parliament on March 22, 2011. Although she acknowledged that Georgian trade deficit is quite big and irrespective reforms undertaken by government the country is still heavily import-dependent that makes Georgia vulnerable to price hike at international market. 
Ferro-alloy that topped the export list traditionally for many years is moved to the second place by making USD 45 million that cuts 15% of the entire export figure. Ferrous waste and scrap kept its third position by making USD 26 million of the total trade that translates into 9%. 
Oil and oil products top the list of major ten imported commodities of 2010. Its share in the total import accounted for USD 96 million that equals 11%. Oil gas and gas-like took the second position by USD 63 million that makes 7% of the total import.
Motor car is number three by 6% and USD 52 million.


Other Stories
Galt and Taggart - Tourism Boom Continues in Georgia
Tourism has become one of the key drivers for the Georgian economy. Galt and Taggart has recently published research about the Georgian tourism sector in the first half of 2018.
"The worst dream for Putin is that Russians want to live in Georgia"
This year, visitors to the Adjara region would notice that there is a boom in construction in and around Batumi.
Underground gas storage facility to be built in Georgia
KfW, a German government-owned development bank signed a EUR 150 million promotional loan with the state-owned Georgian Oil and Gas Corporation (GOGC) for the construction of the first underground gas storage facility in Georgia.
New gambling rules for Georgia
Georgian lawmakers are preparing a new draft law relating to online-casinos and gambling that will seek to curb gambling addiction in Georgia.
How expensive is it to visit Georgia?
The Georgian Lari (GEL) is the official currency of Georgia and is the only legal means of payment in the entire territory of Georgia.
Trade with the EU and the Commonwealth of Independent States (CIS) has grown significantly
Trade with the EU and the CIS has grown by 26% and 33.5 % respectively, says GeoStat, the Georgian National Statistics Office.
The unemployment rate decreases in Georgia
The unemployment rate decreased in Georgia by 1,9% and amounted to 12.1% in the 2nd quarter of 2018 compared with the previous quarter,
Memorandum of Understanding to be signed between Georgia and Malaysia
According to the Georgian Ambassador to Malaysia Nikoloz Apkhazava, Georgia plans to sign a Memorandum of Understanding (MoU) with Malaysia.
“Blauenstein Georgia” due to expand in Georgia
“Blauenstein Georgia” is planning to open more shops in Georgia. It is an agriculture company that sells meat products, meat and convenience food.
The amount of Direct Foreign Investment rises in Georgia
According to the information of the National Statistics Office of Georgia, the amount of direct foreign investment in Georgia has risen
It’s going to get  harder for foreigners to get residence permit in Georgia
It’s going to get harder for foreigners to get permit of residence in Georgia.
Mziuri Park in Tbilisi to be renovated soon
It was the dream of prominent Georgian writer Nodar Dumbadze that when the original Mziuri park was constructed and opened in 1892 that it should be a park for children,
Winemakers to produce Kvanchkara in its place of origin - Racha
Khvanchakara is a semi-sweet Georgian red wine which originates from Racha, in the western part of Georgia. Kvanchkara is made of two types of grape Mujuretuli and Aleksandrouli.
The level of Georgian wine and Chacha exported has increased
The National Wine Agency of Georgia has recently published statistical information about the level of Georgian wine and Chacha exported between January and July, 2018.
New fire engines to be Manufactured in Georgia
The Acting Head of the Emergency Management Agency Shalva Khutsishvili said that the old Zili fire engines (which were made in the USSR) will be phased out and replaced with new ones, manufactured in Georgia.
Georgia witnesses a record number of tourists
The Georgian National Tourism Administration publishes statistical information about international visits to Georgia.
Canadian businessman plans to build a hotel in Bakhmaro
Canadian businessman Vadim Malishev plans to build a hotel in Bakhmaro resort, Guria, in the western part of Georgia.
Coffee Factory will open in Tbilisi in October
The first coffee factory (which will be located on the Kakheti highway) in Tbilisi will open in October.
Places in Georgia where real estate is the most expensive
The real estate market in Georgia is growing annually. In Tbilisi as well as other regions of Georgia new developments are increasingly taking place.
How much does a vacation cost in Tbilisi?
It is the middle of summer and those who have not yet taken a vacation are looking for an appropriate place for sure!
The price for extreme sports in Georgia
Georgia offers a variety of options to extreme sport lovers.
The number of Georgians who own property abroad increases
The number of foreign properties owned by Georgians is increasing.
How much does Taxi cost in Tbilisi?
Stories how Taxi drivers try to deceive passengers and charge them with more money than they should pay are known for everybody all over the world.
What are the highest paid areas in Georgia
According to the data collected by the National Statistics Office of Georgia in the first quarter of 2018 the highest paid jobs in Georgia are found in the financial and insurance fields.
The procedures for exportating Georgian wine to Japan will be simplified
According to the National Wine Agency (the NWA), 4 Georgian laboratories have been added to the list of foreign laboratories registered in Japan, which will significantly simplify Georgian wine import procedures in Japan.
Exchange Rates
GEL Exchange Rate
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange