Geostat published Georgia’s foreign trade statistics for January-February 2017. The main export goods are copper ores and concentrates, which accounted for 16.4% of exports. Ferroalloys take second place with 14.8% of total exported goods. Exports amounted to 355 million USD in January-February 2017, which is 27% higher compared to the same time period of 2016.
Georgia’s export products which increased in January 2017:
- Copper ore - 58.3 million USD, 1.5% increase y/y
- Ferroalloys - 52.5 million USD, 428% increase y/y
- Wines - 20.4 million USD, 60% increase y/y
- Medicines - 19.7 million USD, 97% increase y/y
- Auto exports - 19.3 million USD, 16% decrease y/y
- Mineral waters - 15.3 million USD, 27.3% increase y/y
- Spirits - 15 million USD, 34% increase y/y
- Nitric fertilizers - 14.1 million USD, 14% decrease y/y
- Gold - 11.4 million USD, 4% decrease y/y
- Nuts and walnuts - 11.3 million USD, 46% decrease y/y
- Other goods - 117 million USD, 24% increase y/y
Imports rose: In January-February 2017, imports amounted to 1 billion USD, which is 15% higher compared to the same period last year. The trade gap was 712 million USD, which is more by 62 million USD compared to 2016.
The rise in exports, tourism, and remittances are most likely the cause for the strengthening of the national currency, the Georgian Lari (GEL), in February 2017; however, high imports still negatively affect the GEL.
In the chart below you can see import and export statistics until 2016