Azernews.Az

By Nazrin Gadimova

Azerbaijan was among the top five countries in terms of direct foreign investment in Georgia in 2012, the Georgian statistics body, GeoStat, said on August 15.

According to GeoStat, the volume of Azerbaijan's direct investments in the neighboring South Caucasus republic amounted to $59 million last year, or 7 percent of the total direct investment in the country.

Total FDI in Georgia amounted to $911.6 million in 2012, involving 72 countries. Germany topped the list of investors, investing $138.8 million (15 percent of the total direct investment) in the Georgian economy. It is followed by the United Kingdom with $93.6 million (10 percent of the total investments), Turkey with $81.1 million (9 percent), and investments of international organizations worth $63.5 million or 7 percent of the total invested amount.

In the first quarter of 2013, the volume of Azerbaijan's direct investments in the Georgian economy amounted to $38.4 million, increasing by 94.9 percent compared to the same period of 2012.

In just five years -- from 2008 through 2012 -- the amount of Azerbaijan's direct investments in Georgia amounted to $308.7 million. The largest volume of investments was reported in 2011, when the figure was $138 million. The lowest amount was recorded in 2008 at $23.9 million.

Moreover, Azerbaijan became a major market for Georgia's exports in the first half of 2013. Goods exported from Georgia to Azerbaijan amounted to $332.81 million in January-June 2013, or 26.9 percent of the total exports.

Georgian exports to Azerbaijan increased by 17.5 percent compared to the same period of 2012, when the figure stood at $283.23 million.

Armenia was Georgia's second largest importer in the first half of 2013, accounting for $141.06 million (11.4 percent of the total exports). The third largest importer of Georgian goods was the U.S. with $85.07 million (6.9 percent).

Total exports of Georgia amounted to $1.24 billion in January-June 2013, increasing by 9 percent compared to the same period of 2012.

Georgia's imports from Azerbaijan amounted to $273.16 million in the first half of 2013. According to the report, the volume of imports from Azerbaijan decreased by 15.3 percent compared to the same period of last year when Georgia imported goods worth $322.57 million from Azerbaijan.

At the same time, Azerbaijan ranks second among the countries exporting goods to Georgia. The share of Azerbaijani goods in Georgia's total imports made up 7.9 percent.

Georgia's imports mainly come from Turkey. In the first half of 2013 the volume of goods imports from Turkey amounted to $610.87 million, or 17.6 percent of the country's total imports worth $3.48 billion.