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Georgia's foreign trade up 39% to $1.3 billion in January-May

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TBILISI, July 11 (RIA Novosti) - Georgia's foreign trade increased 38.9% to $1.3 billion in the first five months of 2007 year-on-year, the country's statistics agency said Wednesday.

The former Soviet republic exported $437.8 million worth of goods in the same period, up 13.2% year-on-year, and the country's imports increased 46.7% to $1.9 billion.

In January-May 2007, Georgia's trade with the Commonwealth of Independent States (CIS) amounted to $862.4 million, up 25.8% over the first five months of 2006. CIS states accounted for 37.7% of Georgia's trade, down from 41.6% in the same period last year.

Georgia's trade with the 27 European Union countries in January-May 2007 reached $662.8 million, up 40.1%, year-on-year. Georgian exports to the EU amounted to $103.8 million, up 23.4%, and imports stood at $559 million (up 43.8%). The EU's share in Georgia's trade is 28.9%.

In the period under review, Turkey was Georgia's major economic partner, accounting for 13.8% of Georgia's foreign trade. Bilateral trade stood at $316.3 million, up 68.4%, year-on-year.

Among Georgia's other economic partners are Russia ($284.2 million), Ukraine ($219.6 million), Azerbaijan ($183.6 million), Germany ($168.7 million), the United States ($87.1 million) and Bulgaria ($84.9 million).

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