Azerbaijan Georgia’s 4th largest trade partner

By Azernews

By Rasana Gasimova

Azerbaijan is Georgia’s fourth largest trade partner, with a total turnover of $932.7 million over the 11 months of 2019.

In January-November 2019, Azerbaijan's share in the total trade turnover of the neighboring country amounted to 8.1 percent. During the reporting period, Azerbaijan exported products worth $444.6 million to Georgia, the National Statistics Office of Georgia reported.

Compared to the same period of 2018, Azerbaijan increased exports to the neighboring countries by 2.2 percent. According to this indicator, Azerbaijan is Georgia’s second major export partner after Russia. Exports from Azerbaijan account for 13.1 percent of Georgia's total exports.

In January-November 2019, Georgia imported $488.1 million worth of products from Azerbaijan. This shows a decrease in imports by 4.9 percent.

During the reporting period, Azerbaijan was the fourth major importer of Georgia after Turkey, Russia and China.

In 2018, the total trade turnover between Georgia and Azerbaijan amounted to $1.1 billion. 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. Azerbaijani exports to Georgia mainly include oil and oil products, natural gas, electricity, plastic, cement, anhydrite and gypsum binders.

In 1995-2018, Georgia invested $93.8 million in Azerbaijan’s economy and Baku 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.