Baku, Azerbaijan, August 24
By Tamilla Mammadova – Trend:
Georgia invested $2.5 million in the Ukrainian economy, while direct investments from Ukraine into the Georgian economy amounted to $1.7 million, the Ministry of Economic Development and Trade of Ukraine told Trend.
“Georgia ranks 5th in the TOP-20 list of promising markets for the export of Ukrainian products,” the ministry said.
The Ukrainian ministry noted the high level of economic cooperation between Ukraine and Georgia over the past two years and expressed interest in the further development of bilateral economic cooperation with Georgia.
According to the Ministry, in 2018, the volume of bilateral trade in goods amounted to $613.2 million, having increased by 21.7 percent compared to 2017. In the first six months of 2019, the volume of bilateral trade amounted to $278.3 million, which is an increase by 1.7 percent compared to the same period of 2018.
Last year, the structure of Ukrainian exports to Georgia was dominated by supplies of tobacco and industrial substitutes for tobacco (27.1 percent), ferrous metal (14 percent), food industry products (4.7 percent), milk and dairy products, eggs and honey (3.8 percent) and alcoholic and non-alcoholic drinks and vinegar (3.6 percent).
"For first six months of 2019, the tobacco and industrial tobacco substitutes dominated in the structure of Ukrainian exports to Georgia, having reached 15.9 percent. They were followed by ferrous metals - 10.4 percent; food industry - 5.9 percent; milk and dairy products, eggs and honey - 5.7 percent; and pharmaceutical products - 3.9 percent,” the Ministry said.
In 2018, the structure of imports from Georgia was dominated by alcohol and non-alcoholic drinks and vinegar (55.4 percent), fertilizers (16.2 percent), goods purchased at ports (7.4 percent), means of land transport, except for rail (6 percent), and fruits and nuts (3.9 percent).
In 1H2019, the structure of the imports from Georgia to Ukraine was dominated by alcoholic and non-alcoholic drinks and vinegar (34.3 percent), fertilizers (33.5 percent), ore, slag and ash (5.7 percent) and goods purchased at ports (3.4 percent), stated the ministry.