Georgia's foreign trade in 2015 fell to 9.92 billion U.S. dollars, down 13 percent year on year, the country's statistics office said on Wednesday.
Exports were down by 23 percent to 2.2 billion dollars from the previous year, largely due to an decline in the exports of vehicles and ferroalloys, and shrinking trade with Russia. Meanwhile, Georgia's imports also dropped 10.1 percent in 2015 to 7.72 billion dollars.
Trade deficit declined 3.7 percent to 5.5 billion dollars in 2015 from the previous year. Turkey remains Georgia's largest trading partner with the turnover of 1.51 billion dollars in 2015. It is followed by Russia and Azerbaijan with the trade of 788.5 million dollars and 783.3 million dollars, respectively.
Analysts attributed the fall in foreign trade to the financial turbulence characterized by the sharp devaluation of the Georgian currency Lari which lost 30 percent of its value against the U.S. dollar in 2015.
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