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Georgia’s top trade partners in January-March were Russia, Türkiye and China

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The exports of Georgia (excluding non-declared exports) reached USD 1 401.2 million in January-March 2025 (5.7 percent higher year-on-year). The domestic exports had the share of 45.8 percent in total exports constituted (USD 641.8 million, 0.1 percent lower to the same period of 2024).

As for the total domestic exports of Georgia in January-March 2025, the share of the top ten trading partners amounted to 67.4 percent. Russia (USD 122.0 million), Türkiye (USD 66.9 million) and China (USD 47.5 million) were the top partners.

In the reporting period, the first place in the list of top domestic export item belonged to precious metal ores and concentrates (USD 53.0 million, or 8.3 percent of total domestic exports). Particularly, exports of wine of fresh grapes amounted to USD 49.6 million and had the share of 7.7 percent in the total domestic exports. The third place in the domestic exports was occupied by Spirituous beverages (USD 45.4 million, 7.1 percent of the total domestic exports).

NH Logistics GEO has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Georgia and Eurasia, supporting many clients with their import/export shipments.

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The rise of Serbia’s trade deficit is 52.8% in Jan-March

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According to the data that the statistics office reported on Wednesday, Serbia’s trade demonstrated an annual increase by 52.8% to 2.895 billion euro ($3.290 billion) in the first three months of 2025.

Consequently, more details appeared in a press release, reporting that the annual rise of exports equaled to 1.8% and reached 7.346 billion euro in the January-March period, while the increase of imports attained 12.4% (10.241 billion euro).

Meanwhile, the downfall of the export-import ratio was 7.5 % (from 79.2% to 71.7%) in the same period last year.

As for Serbia’s trade deficit, it widened from 698 million euro, creating a trade gap of 1.186 billion euro. Particularly, the increase of exports equaled to 4% on the year to 2.615 billion euro in March, while the growth of imports attained 18.3% (totally 3.801 billion euro).

Comparatively, Serbia’s trade gap growth was 19.9% (totally 9.865 billion euro).

NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.

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Competitors in Serbia are three times less efficient than German investors

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A total trade exchange of €9.41 billion made Germany Serbia’s most important trading partner last year. Serbia imported goods worth €5.14 billion from Germany, while exports to Germany achieved €4.27 billion in 2024.
Simultaneously, total trade with Italy, for example, attained €4.49 billion, while Serbia imported from China goods worth €5.11 billion.
Alexander Markus, Executive Board Member of the German-Serbian Chamber of Commerce, said that Serbia and Germany have doubled trade between each other from 2018 to 2024 (from €4.67 billion to €9.411 billion).
Finished or semi-finished components for further processing in the mobility sector (25%), machines and equipment, mechanical tools, electronic devices (25%), and chemical products (11%) are Serbia’s main imported products from Germany.
Goods from the mobility sector (51%), followed by iron ore and wood products, as well as food (each 11%) and chemical products (7%) primarily make up exports from Serbia to Germany. German investors make more than €2 billion of these exports, including wire harnesses, electronics, cars, and trams.
Stada-Hemofarm (€900 million), ZF Serbia (€580 million), Lidl (€460 million), Continental (€183 million), Brose (€180 million), Metro Cash & Carry (€142 million), and Messer Tehnogas AD (€119 million) are the largest German investors in Serbia. Alexander Markus said that total foreign direct investments from Germany in Serbia have reached around €6 billion since the year 2000. 900 companies create 80,000 jobs and pay 31% higher wages than the overall business sector average. They also generate 16% of Serbian exports and have 7% higher gross added value than the national average.
In spite of an improvement of the business climate in Germany at the end of January, expectations then declined again, and companies remain pessimistic.
Migration also has a significant impact on the German labour market (about 27% of the workforce in Germany are immigrants).
Workers from the six countries of Southeastern Europe have a simplified access to the German labour market due to a prior approval from the Federal Employment Agency. Totally, a fixed quota of up to 50,000 residence permits annually (for all six countries) was set before negotiations on the new coalition government. On the one hand, it contributes to the “brain drain” from Serbia. On the other hand, Serbian skilled and reliable workforce attracts German investments.
There are plans to further reduce the number of workers coming to Germany to 25,000 per year.
A signed employment contract is necessary for anyone coming from Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, or Serbia who wishes to move to Germany under the Western Balkans rule.
NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.

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Strategic partnership of Baku and Tbilisi at crossroads of Eurasia

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Georgian President Mikheil Kavelashvili chose Baku as the destination of his first foreign trip since taking office. It shows the importance of the alliance and strategic partnership between Azerbaijan and Georgia, as well as continuity, trust, and a shared commitment to regional ownership of development and security agendas.
During the official visit, the both Presidents emphasized friendship, brotherhood, historical bonds, strategic alignment between the two nations, mutual respect and consideration of each other’s national interests.
For a long time, Azerbaijan and Georgia have been leading joint projects such as the Baku-Tbilisi-Ceyhan oil pipeline, Baku-Tbilisi-Erzurum gas pipeline, and the Baku-Tbilisi-Kars railway. They want to change the energy and transit map of Eurasia and to turn the South Caucasus into a globally significant transport and energy hub.
Notably, Georgian seaports and transport corridors like the Middle Corridor (Trans-Caspian International Transport Route) give Azerbaijan access to Europe. This position makes the two countries pivotal players in East–West connectivity. This role can be expanded even more due to the development of Alat Port and modernization of Georgian port infrastructure.
Also, a common stance on protecting sovereignty and national interests amid increasing foreign interference and double standards was emphasized by both presidents. Georgia and Azerbaijan promote a regional model of development based on mutual respect and strategic autonomy to resist the pressures that disrupt traditional values or destabilize domestic politics.
Nevertheless, the both leaders worry about the changing security dynamics in the South Caucasus. Luckily, the progress in the Armenia–Azerbaijan peace negotiations provide an opportunity for lasting stability and integration in the region.
Moreover, Azerbaijan’s assertive regional diplomacy and Georgia’s declared policy of neutrality and its offer to facilitate peace processes complement each other.
Generally speaking, Azerbaijan and Georgia have laid the foundation for a partnership that not only serves their national interests but also offers a framework for regional cooperation and independence by aligning on infrastructure, trade, energy, and values. These two countries are co-architects of a new South Caucasus, able to unite their voices on critical issues—from territorial integrity to economic resilience. They prove that strong, principled partnerships can define the future of entire regions.
NH Logistics GEO has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Georgia and Eurasia, supporting many clients with their import/export shipments.

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Ukraine’s exports of titanium-containing ores slash drastically in 3 months

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As the Ukrainian State Customs Service reported on Tuesday, the country’s exports of titanium-containing ores and concentrate reduced in physical terms by 88.1% year-on-year in January-March 2025 (to 277 tonnes) and by 87.1% in value (to $496,000).
Uzbekistan (35.61%), Turkey (35.01%) and Egypt (29.38%) were the main exporters.
China exported to Ukraine 22 tonnes of titanium-containing ore worth $37,000 in the first quarter of 2025.
According to reports, the slash of Ukraine exports of titanium-containing ores in physical terms attained 37.5% year-on-year in 2024 (7,284 tonnes). The decline of exports of titanium-containing ores and concentrate in value was 40% ($11.654 million). Turkey (62.82%), Egypt (7.38%) and Poland (6.93%) were the main importers.
Ukraine’s import of titanium-containing ore attained 314 tonnes and was worth $492,000. In 2024, 87.78% of it came from China, 6.11% from Vietnam and 6.11% from Senegal.
Meanwhile, experts noted the difference between the supplies of titanium-containing ores from companies and the statistics by the State Customs Service. Nevertheless, the State Customs Service referred to restrictions imposed on the volume of export-import operations and didn’t provide the complete statistics on exports of titanium raw materials.
The State Customs Service said that the statistical exports from Ukraine included these supplies, but the statistics of foreign trade published by the State Customs Service did not reflect them. As the regulations say, when protecting data for confidentiality purposes, they report in full any information that they deem confidential at the next, higher level of aggregation of data on the goods.
In accordance with the corresponding order, the list of data containing sensitive information in the State Customs Service includes the information on customs clearance and movement of goods subject to export control across the Ukrainian customs border.
Mainly the United Mining and Chemical Company PJSC now mines the titanium-containing ores in Ukraine. It manages the Volnogorsk Mining and Metals Plant (VGMK), located in the Dnepropetrovsk region, and the Irshansk Mining and Processing Plant (IGOK), based in the Zhitomir region. Other important mining companies are the Mezhirichinsky GOK LLC and the Valki-Ilmenit LLC, both located in Irshansk, Zhitomir region. Also, a mining and processing plant was built by the Dnepr-based Velta production and commercial firm at the Birzulovskoye deposit with an annual capacity of 240,000 tonnes of ilmenite concentrate.
NH Logistics UKR has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.

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31.03.2025. – External trade, February 2025

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The total external trade in the Republic of Serbia for the period January – February 2025 reached USD 11533.9 million (an increase of 0.1% compared to the same period last year).
Nevertheless, the value of exports decreased by 5.1% (0.6% in Euros) and attained USD 4853.5 million (EUR 4675.1 million), while the value of imports increased by 4.2% (9.0% in Euros) and reached USD 6680.4 million (EUR 6435.0 million) compared to the same period last year.
The increase of the deficit was 40.8% (47.0% in Euros) (USD 1826.9 million/ EUR 1759.8) in relation to the same period last year.
The decline of the export – import ratio was 79.8% compared to the same period last year.
56.1% of total external trade was accounted for European Union member countries, with which Serbia has signed agreements on free trade.
The CEFTA countries were Serbia’s second major partner. The exports of electricity, cereals and produces thereof, oil and oil derivatives, medical and pharmaceutical products and beverages gave gained surplus in external trade equal to USD 477.1 million. Serbia’s exports in the referent period reached USD 745.4 million (EUR 717.8 million), while the imports were USD 268.3 million (EUR 258.7 million). The export– import ratio was 277.8 % (surplus amounted to EUR 459.1 million and export – import ratio equalled 277.5%).
NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.

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Blocking of Ukrainian wood products’ shipments by Polish customs

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A complaint has come from members of the European Business Association (EBA) in Ukraine against the Polish customs that practically blocked woodworking industry products since March 15.
As the preliminary information of the EBA reports, the Polish side is stopping shipments to verify the origin of raw materials used by Ukrainian manufacturers, particularly to ensure compliance with sanctions. Nevertheless, the member companies of the EBA’s Woodworking and Furniture Committee have not got any specific claims regarding document discrepancies or violations from the Polish customs authorities.
As Ukrainian businesses claim, they have produced all the customs clearance documents required by Polish customs authorities, including supply contracts with branches of the Forests of Ukraine state company, delivery notes, logging tickets, certificates of origin, and other essential documents confirming the legality and transparency of their operations.
Nevertheless, despite all the required documents confirming the legality and origin of the raw materials, they continue to delay and block shipments, and the companies have to pay extra costs because of downtime and having to adjust their routine logistics chains.
As a result, production can be shut down due to prolonged shipment blockages, export contracts can be lost, mass layoffs, and a shortfall in tax revenues at all levels are also possible.
Consequently, the Ukrainian government, the Foreign Ministry, and the Economy Ministry should urgently help probe the reasons behind the blockages and find ways to settle the problem.
As the EBA pointed out, in 2023 and 2024 Polish customs authorities already caused a significant loss of European market clients for Ukrainian producers and seriously affected the competitiveness of domestic enterprises by similar actions.

NH Logistics UKR has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.

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Commodity exchange is the aim of enhancing cooperation between Belarus and Serbia

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As Aleksandr Bashliy, Head of foreign economic relations at BUCE, said during a seminar held in Belgrade on 25 March with support of the Belarusian Embassy in Serbia, The Belarusian Universal Commodity Exchange (BUCE) intends to expand cooperation with Serbian business communities, including through brokerage partnership.
During the seminar, Serbian companies were exploring the possibility of using exchange mechanisms to facilitate export-import transactions with Belarusian enterprises.
Also, Aleksandr Bashliy said that it would become possible to exchange trade between the two countries and to reach a brand-new level due to accrediting a brokerage company in Serbia to represent BUCE’s interests and facilitate the involvement of Serbian business communities in the Belarusian exchange platform.
According to him, Serbia is a key trading and economic partner for Belarus in the Balkans. This is why significant focus is placed on developing cooperation between our countries, including in exchange trading. As a result, the exchange trade between Belarus and Serbia increased by 37 times last year and by ten times in January-February 2025. to Nevertheless, it needs to enhance the level of Serbian business engagement in trading on BUCE’s platform despite the rapid growth in the exchange trade. However, it is possible to effectively address this matter by accrediting an exchange broker in Serbia, who would not only assist Serbian businesses in participating in trades but also handle payments and organize logistics.
As he pointed out, a local broker would significantly simplify access for Serbian companies to the Belarusian exchange market and diversify the trade structure.
At present, there are only eight accredited Serbian resident companies, which is not enough for better results in mutual trade. A broker would allow Serbian companies to start trading on the exchange platform more quickly, without spending time on paperwork, training and other preparatory activities. 54 brokerage companies, including 21 non-residents from 10 countries were accredited by BUCE as of 25 March 2025.
The Belarusian Universal Commodity Exchange, one of the largest commodity exchanges in Eastern Europe founded in 2004, organized its first trading session in June 2005. Assistance to Belarusian enterprises with export and foreign companies with entering the Belarusian market is its main function. A wide range of metal, forestry and agricultural products, industrial and consumer goods are sold by BUCE.
NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.

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State Statistics Service reports a 55.6% deficit of Ukraine’s foreign trade in Jan 2025

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According to Ukrainian media, Ukraine’s foreign trade deficit in goods grew up by 55.6% (from $1.5 billion in January 2024 to $2.34 billion in January 2025).
As the State Statistics Service said, exports of goods from Ukraine fell down by 11.5% year-on-year to $3.18 billion in January 2025, while imports achieved $5.51 billion (8.2% up).
Notably, the decline of Ukraine’s seasonally adjusted exports was $3.11 billion in January 2025 (4.7% month-on-month), while imports reached $6.21 billion (3.4% increase).
$3.1 billion was the seasonally adjusted trade deficit in January 2025.
0.58 (0.71 in January 2024) was the export-import coverage ratio in January 2025.
As the service said, the country conducted foreign trade operations with 189 countries.
NH Logistics UKR has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.

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A 15.6% growth of Georgia’s external merchandise trade in January-February 2025

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The amount of the external merchandise trade (excluding non-declared trade) of Georgia equaled to USD 3 567.6 million in January-February2025 (15.6 % higher year-on-year). The exports reached 835.4 million (4.0 % higher), while the imports – USD 2 732.2 million (19.6 % higher). USD 1 896.9 million was the amount of the negative trade balance in the reporting period (53.2 % in external trade turnover).
The top ten trading partners by exports (Kyrgyzstan (USD 166.6 million), Kazakhstan (USD 100.7 million) and Azerbaijan (USD 97.7 million) had the share of 78.7 % in the total exports of Georgia in the reporting period.
The top ten trading partners by imports (the USA (USD 478.3 million), Russia (USD 344.3 million) and Türkiye (USD 337.9 million) had the share of 75.5 percent in the total imports of Georgia in January-February 2025.
The top ten trading partners in the total external trade turnover (the USA (USD 486.9 million), Russia (USD 416.2 million) and Türkiye (USD 384.3 million) had share of 71.9 percent in the total external trade of Georgia in the reporting period.
34.1 percent of total exports was accounted for motor cars in January-February 2025 (the first place in the list of top export items, USD 285.2 million). 4.7 percent of the total exports was accounted for precious metal ores and concentrates (USD 39.7 million). The third place was taken by exports of spirituous beverages (USD 29.4 million, 3.5 percent of the total exports).
Paintings, drawings and pastels (USD 481.1 million, 17.6 percent of the total imports) were the top import commodities in January-February 2025, followed by motor cars (USD 326.8 million, 12.0 percent of imports). Third in the top import commodity list were the petroleum and petroleum oils (USD 202.1 million, 7.4 percent of imports).
NH Logistics GEO has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Georgia and Eurasia, supporting many clients with their import/export shipments.

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