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Exports up 4.5% y/y in October 2019

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BM.GE
25.11.19 18:23
662
Galt&Taggart Published Weekly Market Watch. According to the Weekly Market Watch, in October 2019, exports increased by 4.5% y/y to US$ 316.5mn, imports were down 2.1% y/y to US$ 847.6mn and the trade deficit narrowed 5.7% y/y to US$ 531.1mn, according to Geostat.

In October 2019, cars (+84.3% y/y), copper (+7.2% y/y), wine (+36.1% y/y), spirits (+33.7% y/y) and mineral water (+37.8% y/y) were the top 5 exported commodities. A 20.6% of exports was directed to the EU (-2.7% y/y), 56.8% to the CIS (+17.1% y/y) and 22.7% to other countries (- 13.1% y/y).

In October 2019, copper (+101.6% y/y), petroleum (-14.7% y/y), cars (-29.7% y/y), pharmaceuticals (-7.5% y/y) and phones (+59.8% y/y) represented the top 5 imported commodities. Overall, in 10M19, the trade deficit was down 10.8% y/y to US$ 4.3bn as exports were up 10.4% y/y to US$ 3.0bn and imports decreased by 3.1% y/y to US$ 7.3bn. Producer price index up 9.2% y/y in October 2019 Annual PPI for industrial goods retreated to 9.2% in October 2019 from 11.2% in previous month, according to Geostat.

Rising prices in manufacturing (+9.7% y/y) and products from mining and quarrying (+16.7% y/y) contributed the most to the overall index change