Georgian Annual Trade Increased by 36%
26 January, 2012
Georgian Annual Trade Increased by 36%

Georgian trade turnover increased by 36% in 2011 compared to the previous year. Export and import increased by 39% and 34% respectively, Georgian official statistics body informed on January 24, 2012. 

Georgian trade turnover [exclusive of non-organized trade] accounted for USD 9. 247 billion that exceeds the previous year data by 36%. The export share in the figure made USD 2. 189 billion [by 39% more than in 2010] and the import accounted for USD 7. 058 billion [a 34% increase

compared to 2010].

The negative trade balance totaled USD 4.869 billion that translates into 32% increase compared with the previous year.

According to Geostat, Georgian statistics body, in spite of growth of the trade deficit’s absolute indictor its share in the total trade turnover is decreasing.  This indicator reached the lowest point in 2011 that translates into 52.7% of the total trade.

Moreover, the geographic map of Georgian foreign trade partners becomes more and more expansive each year, the national statistics service informs, and by 2011 the list of Georgia’s trade partners reached its historical maximum as includes 147 countries.

Trade with the EU countries increased by more than 41 percent in 2011 and accounted for USD 2.477 billion. The export out of the figure makes USD 424 million [by 46% more than in 2010] and the import amounts to USD 2.053 billion [by 40% more than in the previous year].

The EU countries’ share cut 27% in the total Georgian foreign trade including 19% and 29% in export and import respectively.  Accordingly, the similar data percentage stood at 26%, 18% and 28% in 2010 respectively. Moreover, 33% of the entire trade deficit came with the EU countries [it was 32% in 2010].

The biggest growth in Georgian top ten export product comes with nuts in 2011. It made 103%, while growth of azoth fertilizers and motor cars accounted for 100% and 98% respectively.

The list of goods imported in largest amount in 2011 is traditionally topped by oil and oil products. The import of the oil and oil products accounted for USD 894 million that makes 13% of the entire import. Motor car is the runner up by USD 511 million that makes about 7% of the total Georgian import. The oil airs and gas-like carbon-hydrates take the third place in the list of top ten imported goods by USD 237 million [that translates into 3% of the total import].

Among the top ten import product the biggest growth came with the metal constructions made of the ferro-metal – 104% of growth, calculator machines [by 53%] and oil airs (the 47% of growth).

The list of top ten exported goods is led by motor cars that actually are based on the re-export and increasing demand from Azerbaijan, Armenia and Kazakhstan that take import motor cars through the re-export regime via Georgia. Export of motor cars accounted for USD 450 million that makes 21% of the total export figure. Export of ferro-alloys amounts to USD 255 million while its share in the total export makes 12%. The azoth fertilizers took the third place as their export accounted for USD 144 million that translates into 7% of the entire export.

The national statistics body accentuates that Georgian export increase in 2011 was really significant as the export growth fixed in December of 2011 compared with the December of 2010 made 28%. Much bigger is the growth compared with the 2009 year data as it accounts for 93%. However independent experts always accentuate that the 2009 was the crisis-stricken year  and to see the real growth or slump trends figures had better to be compared with the before crisis data, 2007 for example when Georgian GDP growth was the highest [12%] and macro-economic data also were high.

Compared with the 2008 and 2007 export figure that were higher [USD 1.495 billion and USD 1.232 billion respectively] than the 2009 data [fixing USD 1.134 billion] export of 2011 is increased by 46%, and by about 77% compared respectively.

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