Date,
Time MSK

11.02.2016



Georgian-Russian Bilateral Trade, 10 months of 2015


In the first 10 months of 2015 Georgian-Russian bilateral trade volume decreased by 6% and reached 0.602 billion USD compared to 0.643 billion USD in the same period of 2014.


Georgian exports to Russia fell to 0.121 billion USD (by 44%) while imports rose to 0.481 billion USD (by 13%) (see Figure 1).



Figure 1. 2007-2015 Georgian-Russian bilateral trade turnover, billion USD. Source: ITC Trade Map.

Figure 1. 2007-2015 Georgian-Russian bilateral trade turnover, billion USD.png

* 2015 data includes January – October



Georgian exports to Russia


Georgia primarily exports to Russia the following products (see Figure 2, Table 1):


▪ Beverages, spirits and vinegar (60%)

▪ Iron and steel (16%)

▪ Edible fruit, nuts, peel of citrus fruit, melons (10%)

▪ Coffee, tea, mate and spices (2%)

▪ Inorganic chemicals, precious metal compound, isotopes (1%)

▪ Ores, slag and ash (1%)

▪ Optical, photo, technical, medical, etc apparatus (1%)

▪ Vegetable, fruit, nut, etc food preparations (1%)

▪ Salt, sulphur, earth, stone, plaster, lime and cement (1%)

▪ Miscellaneous edible preparations (0.3%)

▪ Miscellaneous manufactured articles (0.3%)

▪ Edible vegetables and certain roots and tubers (0.2%)

▪ Tanning, dyeing extracts, tannins, derivs,pigments etc (0.2%)

▪ Miscellaneous chemical products (0.2%)


In the first 10 months of 2015 the imports of Georgian made products in Russia experienced a significant fall. The imports of miscellaneous chemical products fell by 73%; the imports of beverages, spirits and vinegar - by 59%.



Figure 2. Structure of Georgian Exports to Russia, January – October 2015. Source: ITC Trade Map.

Figure 2. Structure of Georgian Exports to Russia, January – October 2015.png



Table 1. Key products exported from Georgia to Russia in January – October 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume, 10 months 2014, USD thousand

Volume, 10 months 2015, USD thousand

Change in 2015, %

Share in total product imports, %

Tariff applied by Russia to Georgian products

22

Beverages, spirits and vinegar

$173,611

$72,024

-59%

8.2

0

72

Iron and steel

$14,334

$19,035

33%

0.3

0

8

Edible fruit, nuts, peel of citrus fruit, melons

$8,209

$11,494

40%

0.5

0

9

Coffee, tea, mate and spices

$2,425

$2,795

15%

0.2

0

20

Vegetable, fruit, nut, etc food preparations

$1,433

$1,581

10%

0.1

0

26

Ores, slag and ash

$1,420

$1,366

-4%

0.1

0

90

Optical, photo, technical, medical, etc apparatus

$449

$1,082

141%

0

0

28

Inorganic chemicals, precious metal compound, isotopes

$1,138

$1,038

-9%

0.1

0

25

Salt, sulphur, earth, stone, plaster, lime and cement

$153

$707

362%

0.1

0

96

Miscellaneous manufactured articles

$161

$544

238%

0

0

21

Miscellaneous edible preparations

$532

$435

-18%

0.1

0

32

Tanning, dyeing extracts, tannins, derivs,pigments etc

$25

$275

1000%

0

0

7

Edible vegetables and certain roots and tubers

$132

$237

80%

0

0

38

Miscellaneous chemical products

$190

$51

-73%

0

0



Russian exports to Georgia


In the first 10 months of 2015 Russia has exported to Georgia the following products (see Figure 3, Table 2):


▪ Mineral fuels, oils, distillation products, etc (34%)

▪ Cereals (21%)

▪ Animal,vegetable fats and oils, cleavage products, etc (5%)

▪ Tobacco and manufactured tobacco substitutes (3%)

▪ Miscellaneous edible preparations (3%)

▪ Cereal, flour, starch, milk preparations and products (3%)

▪ Cocoa and cocoa preparations (2%)

▪ Milling products, malt, starches, inulin, wheat gluten (2%)

▪ Machinery, nuclear reactors, boilers, etc (2%)

▪ Electrical, electronic equipment (2%)

▪ Pharmaceutical products (2%)

▪ Inorganic chemicals, precious metal compound, isotopes (1%)

▪ Beverages, spirits and vinegar (1%)

▪ Rubber and articles thereof (1%)


The first 10 months of 2015 showed a significant rise in Russian exports to Georgia of tobacco and manufactured tobacco substitutes (+419%). At the same time the exports of beverages, spirits and vinegar (-40%) showed a significant fall (see Table 2).




Figure 3. Structure of Russian Exports to Georgia, January – October 2015. Source: ITC Trade Map.

Figure 3. Structure of Russian Exports to Georgia, January – October 2015.png



Table 2. Key products exported from Russia to Georgia in January – October 2015. Source: ITC Trade Map.


Product HS Code

Product Type

Volume, 10 months 2014, USD thousand

Volume, 10 months 2015, USD thousand

Change in 2015, %

Share in total product imports, %

27

Mineral fuels, oils, distillation products, etc

$121,927

$165,568

36%

12.1

10

Cereals

$109,004

$99,076

-9%

81.5

15

Animal,vegetable fats and oils, cleavage products, etc

$16,880

$21,537

28%

29.1

24

Tobacco and manufactured tobacco substitutes

$3,063

$15,911

419%

3.6

21

Miscellaneous edible preparations

$21,846

$14,064

-36%

33.3

19

Cereal, flour, starch, milk preparations and products

$13,535

$13,957

3%

25.2

11

Milling products, malt, starches, inulin, wheat gluten

$6,423

$10,955

71%

28.1

85

Electrical, electronic equipment

$8,333

$10,708

29%

1.6

18

Cocoa and cocoa preparations

$12,738

$9,894

-22%

28.4

84

Machinery, nuclear reactors, boilers, etc

$8,870

$9,405

6%

1.5

30

Pharmaceutical products

$8,641

$8,476

-2%

4

22

Beverages, spirits and vinegar

$6,299

$3,785

-40%

8.9

28

Inorganic chemicals, precious metal compound, isotopes

$3,423

$3,441

1%

31.8

40

Rubber and articles thereof

$2,901

$2,360

-19%

3.5



Table 3. represents basic macroeconomic and foreign trade indicators for both countries.


Table 3. Macroeconomic Indicators for Russia and Georgia. Source: IMF World Economic Outlook Database, April 2015


Macroeconomic Indicator

Russia

Georgia

GDP in 2014, billion dollars

1,857.461

16.535

Estimated GDP in 2015, billion dollars

1,175.996

13.758

Inflation, average consumer prices, %

7.82

3.069

Volume of imported goods, billion dollars

282.6

8.6

Volume of exported goods, billion dollars

492.1

2.9

Population, millions

143.7

4.470


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