Trade deficit down 12.1% y/y in July 2015 and down 3.6% y/y in 7M15
In July 2015, exports decreased 24.0% y/y to US$ 186.9mn, imports fell 15.8% y/y to US$ 662.0mn, and trade deficit narrowed 12.1% y/y to US$ 475.1mn, according to foreign trade data released by GeoStat. Gold (+50.5% y/y) and fertilizers (+38.5% y/y) were the major Georgian exports expanding significantly in July. Exports to EU increased 10.5% y/y, while CIS markets were a major drag, decreasing 39.8% y/y. In July 2015, imports continued the downward trend, savings from lower oil prices and car imports being the major contributors.
In 7M15, exports fell 23.8% y/y to US$ 1.3bn, imports decreased 10.6% y/y to US$ 4.3bn, and trade deficit contracted 3.6% y/y to US$ 3.04mn. 27% of exports were directed to the EU (-0.4% y/y), 39% to the CIS (-44.3% y/y), and 34% to other countries (-0.8% y/y), out of which Turkey (9.9% of total), and USA (5.4%) were the largest export destinations. A 66.6% drop in car exports (8.7% of total) had the largest negative impact. Nuts (+146.5% y/y), crude oil (+178.0% y/y), and gold (+74.1% y/y) were the major Georgia exports increasing significantly in 7M15.
In 7M15, pharmaceuticals (+126.0% y/y), petroleum (-29.8% y/y), cars (-31.6% y/y), gases (+21.8% y/y), and copper ores (+5.3% y/y) represented the top 5 imported commodities. 32% of imports came from EU (+2.9% y/y), 25% from the CIS (-6.3% y/y), and 43% from other countries (-20.5% y/y), with Turkey (17.3% of total), and China (8.2%) being the largest trading partners.
Excluding one-offs trade deficit down 28.6% y/y in July 2015 and down 11.0% y/y in 7M15
Excluding donated C hepatitis medicaments imports totaling US$ 232.6mn (out of which US$ 143.6mn was imported in May and US$ 89mn in July) trade deficit narrowed 28.6% y/y in July 2015 and 11.0% y/y in 7M15.
Property registration up 0.2% y/y and company registration up 14.5% y/y in July 2015
Property registration (commercial and residential real estate) increased 0.2% y/y (+0.1% m/m), reaching 49,203 units in July 2015, according to the National Agency of Public Registry (NAPR). Registration decreased for primary (-2.6% y/y, 20% of total) and increased for secondary (+1.0% y/y, 80% of total) properties.
Company registration increased 14.5% y/y (+4.0% m/m) to 4,180 units in July 2015. Out of newly registered companies, 98.1% were business legal entities while 1.9% comprised non-entrepreneurial (non-commercial) legal entities.
FDI totaled US$ 1.76bn (10.6% of GDP) up 86.7% y/y in 2014
According to GeoStat’s final figures, FDI increased 86.7% y/y to US$ 1.76bn in 2014, the biggest inflow since 2007. The final number has been revised significantly upwards from preliminary estimate, standing at US$ 1.27bn (+35.1% y/y). Transport and communication sector was the largest FDI recipient at US$ 433.7mn, increasing 209.5% y/y and accounting for 24.7% of total, followed by construction at US$ 316.6mn (+535.1% y/y, 18.05 of total), and manufacturing at US$ 205.4mn (+105.9% y/y, 11.7% of total). Netherlands topped the list of investors with US$ 373.7mn (+144.0% y/y, 21.3% of total), followed by Azerbaijan at US$ 341.4mn (+316.6% y/y, 19.4% of total), and China (+142.5% y/y, 12.4% of total).
