Car re-export tops Georgian export
31 March, 2011

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.