Georgia's International Commerce Surges by 22.1% to $4.8 Billion in Q1 2023

| News, Economy, Georgia

According to preliminary figures released by Georgia's National Statistics Service on April 20, the country's international commerce climbed by 22.1% between January and March 2023 compared to the same time last year, reaching $4.8 billion.

 In the same time frame, Georgia's exports jumped by 24.7% to $1.5 billion, while its imports increased by 21% to $3.3 billion. As a result, 38.9% of the nation's total foreign trade turnover, or $1.9 billion, was lost to a negative trade balance.

Turkey was Georgia's largest trading partner from January to March 2023, with a trading volume of $673.7 million. Russia came in second with $666.9 million, followed by China with $376.0 million, Azerbaijan with $373.9 million, and Armenia with $321.4 million. Armenia, with $216.9 million, was Georgia's top export trading partner during that period, followed by Azerbaijan ($180.7 million), Russia ($176.6 million), China ($133.3 million), and Kazakhstan ($122.2 million). Georgia's biggest commercial partners in terms of imports were Turkey ($568,7 million), Russia ($490 million), the United States ($261,8 million), China ($242,7 million), and Germany ($205,3 million).

Regarding imports, the largest commodity groups include automobiles, which account for 474.5 million US dollars, petroleum and petroleum oils, which account for 251.2 million US dollars, petroleum gases and other gaseous hydrocarbons, which account for 225 million US dollars, copper ores and concentrates, which account for 130.7 million US dollars, medication administered in measured doses, which accounts for 114.8 million US dollars, telephone sets, which account for 87.1 million US dollars, and automatic data processing machines and units thereof, which account for

As for imports, the major commodity groups here are motor cars – with 474.5 million US dollars; petroleum and petroleum oils – with 251.2 million US dollars; petroleum gases and other gaseous hydrocarbons – 225 million US dollars; copper ores and concentrates – 130.7 million US dollars; medicaments put up in measured doses – 114.8 million US dollars; telephone sets – with 87.1 million US dollars; automatic data processing machines and units thereof – 47.2 million US dollars; cigars, cheroots, cigarillos, and cigarettes – 29 million US dollars; motor vehicles for the transport of goods – 28.9 million US dollars; Structures and parts of structures of iron or steel – 27.8 million US dollars; other commodities – 1.9 billion US dollars.

Motor vehicles accounted for the most significant commodity group in exports in January 2023, with 411.8 million US dollars. Copper ores and concentrates follow with 205.7 million US dollars, Ferro-alloys with 81.8 million, fresh grape wine with 56.5 million, nitrogenous fertilizers with 55.2 million, alcoholic beverages with 39.7 million US dollars, hazelnuts and other nuts with 26.7 million US dollars, natural or artificial mineral and aerated waters with 26.1 million US dollars, gold with 24.1 million US dollars, and cigars, cheroots, cigarillos, and cigarettes with 22.

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