7/29/2019 PMC RC- Economic Outlook and Indicators-The Review of
Georgia's External Trade
1/2
EconomicOutlook and Indicators
Newsletter, #2www.pmcg-i.com
MMarch, 2013
Foreign Exchange Rate
01.01.13 19.03.13
USD 1.6562 1.6616
EUR 2.1845 2.1528
Contact
InformationPMC Research Center
Tamar Jugheli
E-mail: [email protected]
E-mail: pmcresearchcenter@
pmcg.geT: (+995) 2 921171
www.pmcg-i.com
In 2010-2013 export as well as import volumeswere characterised
by monthly uctuations. theamplitude of those uctuations were higher
incase of import compared to the case of export.
In the period of 2010-2012 the volume ofexport as well as the
volume of import used to belowest in January and the highest in
December,except in December 2012.
The volume of import started to decrease sinceOctober 2012 and
in November and December itwas lower than the indicators of
correspondingmonths in 2011. The similar pattern is observedin
January 2013, when the volume of importreduced compared to December
2012 (-6%) aswell as compared to January 2012 ( -30%).
Similar pattern to import volume is observedin case of export.
The volume of export started to
decrease since October 2012 and in Novemberand in December it
was lower than the indicatorsof corresponding months compared in
2011. Thevolume of export in January 2013 was lowercompared to
December 2012 (1%) and highercompared to January 2012 ( +25%).
Georgia in International
Ratings
21th place (out of 179countries) in the rankingof Heritage
FoundationsEconomic Freedom Index,
2013
9th place (out of 124) in theranking of World BanksDoing
Business survey, 2013
64th place (out of 144countries) in the GlobalCompetitiveness
Index ofWorld Economic Forum,2012-2013
511h place ( out of176 countries)in theranking of
Transparency
Internationals CorruptionPerception Index, 2013
931h place (out of 142countries) in the LegathumProsperity Index
2012
BB-/Stable/B - Standart andPoors , 2012
External trade had increasing pattern since2009. In 2012 the
volume of external trade ofGeorgia reached 10, 220 mln USD with
10.5%growth rate.
The share of import volume in 2012 tradeincreased (77%) and the
share of export volumedecreased (23%) compared to the
correspondingindicators for 2011 (76%, 24%). Thus, like
previous years, in 2012 the share of import intrade signicantly
exceeded to the share of export(3.3 times).
The volume of export as well as the volume ofimport increased in
2012 compared to 2011, butthe growth rate of import volume remained
toexceed (11%) the growth rate of export volume
(8%).Similar to the previous years Georgia recorded
negative trade balance in 2012 (-5465 mln USD).The trade decit
of 2012 was the highest one inthe period of 2007-2012. It increased
by 12%compared to the corresponding indicator of2011, which can be
explained by the fact thatexport growth rate was signicantly lower
thanimport growth rate in mentioned year.
EEEEEExternal Trade
-6000
-5000
-4000
-3000
-2000
-1000
0
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
2007 2008 2009 2010 2011 2012
MlnUSD
External Trade Balance
Exte rnal T rade Balance Expor t Impo rt
19% 19% 20% 24% 24% 23%
81% 81% 80%76% 76%
77%
0
2000
4000
6000
8000
10000
12000
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2007 2008 2009 2010 2011 2012
TradeinUSD
Share
Share of Export and Import in Trade
Export Import Trade
0
100
200
300
400
500
600
700
800
900
1,000
2010Jan
Feb
March
April
May
June
July
Aug
Sept
Oct
Nov
Dec
2011Jan
Feb
March
April
May
June
July
Aug
Sept
Oct
Nov
Dec
2012Jan
Feb
March
April
May
June
July
Aug
Sept
Oct
Nov
Dec
2013
MlnUSD
Export and Import Dynamics by months, 20102013 Import
Export
7/29/2019 PMC RC- Economic Outlook and Indicators-The Review of
Georgia's External Trade
2/2
Contact Information
-2-
Source: National Statistics Ofce of Georgia, Ministry of Finance
of Georgia,National Bank of Georgia
*projected
PMC Research Center
Tamar JugheliE-mail: pmcresearchcenter@pmcg.
ge
E-mail: [email protected]
T: (+995) 2 921171
www.pmcg-i.com
EconomicOutlook and Indicators
NNewsletter, #2www.pmcg-i.comEEExternal Trade MMarch, 2013
In 2012 top ve trading partner countries by export were Azerbaan
(26%), Armenia (11%), USA (10%), Ukraine (7%) and Turkey (6%) and
ve major exportedcommodities were cars (25%), Ferro-alloys (11%),
nitrogenous fertilizers (6%), gold (4%) and nuts (4%). Based on the
fact that cars were not local productionand were just re-exported
through Georgia, Ferro -alloys can be considered to be the major
exported commodity in 2012.In 2012 the top three of trading
partners by turnover were Turkey, Azerbaan and Ukraine. The major
commodities exported in Turkey were Ferro-alloys,ferrous metal
scrap, knitted goods, cars (re-export) and wheat. The major
commodities exported in Azerbaan were cars (re-export), live bovine
animals, barsand rods of iron, motor vehicles for the transport of
goods and cement. The major commodities exported in Ukraine were
ethyl alcohol and alcoholic beverages,mineral waters, natural wines
of grape and Ferro alloys.
In 2012 top ve trading partner countries by import were Turkey
(18%), Azerbaan (8%), Ukraine (8%), China (8%) and Germany (8%) and
ve major importedcommodities were petroleum products (12%), cars
(8%), petroleum gases (3%), wheat (3%) and pharmaceutics (3%).
BBasic Economic Indicators 2011 2012 I12* II12* III12* IV12*
NNominal GDP in current prices (mln USD) 14 438 15829.7* 3388.3
3918.3 4156.1 4367.6
PPer capita GDP (USD) 3 230.7 3519.6* 753.4 871.2 924.1
971.1
GGDP real growth, percentDP 7.2% 6.1%* 6.7% 8.2% 7.5% 2.8%
Consumer Price Index 8,5% -0.9%*
FForeign Direct Investment (USD) 1 117 865.2* 269.4 219.4 195.4
181.0
UUnemployment Rate 15.1% - - - -
External Public Debt (mln USD) 4200.5 4357.1 - - -PPoverty Level
9.2% - - - -
18%Turkey
8% Azerbaijan
8%Ukraine
7%China
7%Germany6%
Russia
4%Japan
42% Other
Top Trading Partner Countries by Imports, 2012
25% Cars
11% Ferro-Alloys
6%N itrogenousFertilizers
4%Gold4%Nuts
3% Alkoholic drinks
3%N atural grapewines
44%Othercommodities
The Share of Major Exported Commodities in TotalExport, 2012
12% Petroleum
8%Cars
3% Petroleum gases
3% Wheat
3%Medicines andtreatment materials
71% others
The Share of Major Imported Commodities in TotalImport, 2012
26% Azerbaijan
11% Armenia
10% USA7% Ukraine
6% Turkey
4%Canada
36% Others
Top Trading Partner Countries by Export, 2012
