Azerbaijan occupies fifth place with a 5.8%-share in the ranking of Georgia's largest trading partner countries as of 8M24. This year, the countries' trade turnover amounted to USD 848 million 401 thousand. Accordingly, both, the export/import rate decreased by 13.4% y-o-y. Besides this, Georgia-Azerbaijan's trade deficit is positive, meaning that exports exceed imports.
Despite the decrease in this period of the year, Azerbaijan ranks third in the ranking of export destinations, after Kyrgyzstan and Kazakhstan, with 11.4%-share. In January-August, Georgia earned USD 475 million 980 thousand from the sale of goods in Azerbaijan, which was 16.2% less than last year's exports.
The largest group of goods exported to Azerbaijan are motor vehicles, which are fully re-exported. Based on official statistics, the decrease in the export of goods in Azerbaijan was caused by the decrease in the re-export of cars. In 8M24, 35.7% fewer cars were exported to Azerbaijan from Georgia.
TOP-10 Exporting Commodities To Azerbaijan:
1. Motor Cars - USD 190.7 million, 9,132 units;
2. Tobacco and industrial tobacco substitutes - USD 35 million, 2 375 tons;
3. Paper Tare - USD 26.1 million, 1,594 tons;
4. Trucks - USD 22.7 million, 2,395 units;
5. Medicinal products packaged - USD 16.9 million, 392 tons;
6. Waters, including mineral waters, with added sugar - USD 14.5 million, 14,945 tons;
7. Copton and other solid waste - USD 13.9 million, 23,855 tons;
8. Oil and oil products - USD 11.8 million, 10,706 tons;
9. Malt extract - USD 10.3 million, 695 tons;
10. Cotton from textile materials - USD 10.2 million, 713 tons;
As for imports, in January-August, Georgia purchased goods worth USD 372 million 421 thousand from Azerbaijan, which was 9.6% less than the same period last year. The decrease in imports was caused by the decrease in the purchase of natural gas, which is the main import commodity from Azerbaijan.
TOP-10 Importing Goods:
1. Petroleum gases and other gaseous hydrocarbons - USD 149.4 million, 1,000,454 tons;
2. Oil and oil products - USD 71.1 million, 89,950 tons;
3. Cement - USD 35.6 million, 509,671 tons;
4. Cigars, cigarillos and cigarettes - USD 17.6 million, 1 155 tons;
5. Light vehicles - USD 8.9 million, 89 pieces;
6. Plaster; anhydrite; Plaster - USD 8.1 million, 198,457 tons;
7. Carbon steel rods - USD 7 million, 11,277 tons;
8. Products made of gypsum or mixtures based on it - USD 5.4 million, 31 226 tons;
9. Insulated wires, cables - USD 3.3 million, 1,017 tons;
10. Electricity - USD 3.1 million, 47.738 million kWh.
