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GEORGIA: TRADE DEFICIT DOWN.

Summary: 
In January 2016, the trade deficit shrank 25.9% y/y to US$ 283.3mn as exports decreased 21.9% y/y to US$ 122.2mn while imports fell 24.8% y/y to US$ 405.5mn, according to GeoStat.


In January 2016, the trade deficit shrank 25.9% y/y to US$ 283.3mn as exports decreased 21.9% y/y to US$ 122.2mn while imports fell 24.8% y/y to US$ 405.5mn, according to GeoStat. 32% of exports were directed to the EU (-37.8% y/y), 24% to the CIS (-46.5% y/y), and 44% to other countries (+37.2% y/y, on the back of increased exports to China and Switzerland). Significantly reduced car re-exports (-45.6% y/y) and nut exports (-47.9% y/y) weighed on export growth. Copper ores (+42.2% y/y), fertilizers (+191.5% y/y), crude oil (+25.2% y/y), and gold (+28.4% y/y) were the major export commodities posting increases. Gases (+3.2% y/y), petroleum (-19.7% y/y), cars (-33.4% y/y), copper ores (+54.5% y/y), and pharmaceuticals (-34.5% y/y) represented top 5 imported commodities in January 2016.

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Publication:EMBIN (Emerging Markets Business Information News)
Date:Feb 28, 2016
Words:221
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