TODAY.AZ / Business

Azerbaijan is Georgia's second export partner

22 October 2019 [16:26] - TODAY.AZ

By Azernews


By Leman Mammadova

Azerbaijan is Georgia's second major export partner after Russia. The country holds 13.1 percent share in Georgia's total exports.

The trade turnover between Azerbaijan and Georgia totaled $754.9 million in January to September 2019, which makes 8.2 percent in Georgia's total trade turnover, the National Statistics Office of Georgia has reported.

In the first nine months of 2019, Georgia exported $355.1 million worth of products to Azerbaijan. The exports grew by 4 percent compared to 2018.

In addition, Georgia imported $399.7 million worth of products from Azerbaijan during January-September 2019, which is 0.9 percent less than in the same period of 2018.

Azerbaijan's share in the total imports of the neighboring country made 6.2 percent. Therefore, the country was Georgia’s fourth largest import partner after Turkey, Russia and China.

Georgia's total foreign trade turnover in January-September increased by 0.5 percent compared to 2018 and amounted to $ 9.2 billion.

Total trade turnover between Georgia and Azerbaijan amounted to $1.1 billion last year. Georgian exports to Azerbaijan amounted to $502.7 million, while Azerbaijan exported goods worth $586 million to the country.

Georgian exports to Azerbaijan mainly include cement, locomotives and other railway vehicles, mineral and chemical fertilizers, mineral waters, strong drinks, glass and glassware, pharmaceuticals, etc. Azerbaijan mainly exports oil and oil products, natural gas, electricity, plastic, cement, anhydrite and gypsum binders to Georgia.

In 1995-2018, Georgia invested $93.8 million in Azerbaijani economy and Azerbaijan invested $3 billion in Georgia. Since 2012, Azerbaijan has been holding the first place in terms of investments in Georgia. More than 300 Georgian companies are registered in Azerbaijan, while about 650 Azerbaijani investment companies, especially SOCAR, operate successfully in Georgia.

Azerbaijan was named the number one investor in Georgia in 2018. Last year, Azerbaijan invested $240 million in Georgia's economy. Azerbaijan's share in direct investments in the economy of the neighboring country was 19.5 percent. Although this is 1.9 times less than in 2017, Azerbaijan maintained its leadership.

URL: http://www.today.az/news/business/187530.html

Print version

Views: 347

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: