Specific products' import decreases in May

Specific products' import decreases in May

Ferroalloys and concentrates equaled a considerable number of imported goods in May 2020, equalling 6.6% in May 2020.

The annual decrease totaled 20.7% and caused a -1.1% decrease in the total imports to change.

The decline in imports of cars, oil, and oil products (-10.5% in total) also considerably impacted the import drop.

The imports of oil gasses, medications, telephones, and calculation machinery and blocks also decreased, while metal mines and concentrates, wheat and sugar imports increased.

This information is provided in the May review by the National Bank of Georgia.

The National Bank reports that the export was less diversified than in 2019.

The central importer countries were Turkey, Russia, China, Armenia, Germany, Ukraine, and Azerbaijan in May 2020.

The seven key trade partners implemented 64% of the entire imports.

Russia and Azerbaijan were leaders in the imports drop, as they had reduced importing oil and oil products amidst the decline in prices at international markets.

Imports from China, the US, Germany, Poland, and Turkey to Georgia have also declined, while imports from Armenia and Brazil increased due to the growth of the volume of imported copper and concentrates.

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