2022
Exports
$1.69MWorld Rnk 92 / 188
Flag Rnk 73 / 96
2022
PRODUCT COMPLEXITY IN Natural gums, resins & other vegetable extracts
-0.98Rnk 834 / 1025
2022
Imports
$2.25MWorld Rnk 104 / 212
Flag Rnk 81 / 96
2022
ECONOMIC COMPLEXITY of Georgia
0.036Rnk 64 / 133

About

Exports In 2022, Georgia exported $1.69M in Natural gums, resins & other vegetable extracts, making it the 92nd largest exporter of Natural gums, resins & other vegetable extracts in the world. At the same year, Natural gums, resins & other vegetable extracts was the 73rd most exported product in Georgia. The main destination of Natural gums, resins & other vegetable extracts exports from Georgia are: Armenia ($1.06M), Netherlands ($343k), Russia ($136k), Kazakhstan ($39.2k), and Spain ($37.8k).

The fastest growing export markets for Natural gums, resins & other vegetable extracts of Georgia between 2021 and 2022 were Armenia ($1.06M), Russia ($122k), and Netherlands ($54.6k).

Imports In 2022, Georgia imported $2.25M in Natural gums, resins & other vegetable extracts, becoming the 104th largest importer of Natural gums, resins & other vegetable extracts in the world. At the same year, Natural gums, resins & other vegetable extracts was the 81st most imported product in Georgia. Georgia imports Natural gums, resins & other vegetable extracts primarily from: China ($795k), Germany ($500k), Spain ($160k), India ($138k), and Switzerland ($135k).

The fastest growing import markets in Natural gums, resins & other vegetable extracts for Georgia between 2021 and 2022 were China ($473k), Switzerland ($111k), and India ($97.2k).

Latest Trends

Jul 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Natural gums, resins & other vegetable extracts. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.69M
IMPORTS (2022)$2.25M
NET TRADE (2022)-$562k

In 2022, Georgia exported $1.69M in Natural gums, resins & other vegetable extracts. The main destinations of Georgia exports on Natural gums, resins & other vegetable extracts were Armenia ($1.06M), Netherlands ($343k), Russia ($136k), Kazakhstan ($39.2k), and Spain ($37.8k).

In 2022, Georgia imported $2.25M in Natural gums, resins & other vegetable extracts, mainly from China ($795k), Germany ($500k), Spain ($160k), India ($138k), and Switzerland ($135k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Natural gums, resins & other vegetable extracts EXPORT MARKETS FOR Georgia WERE (2021 - 2022):
Armenia$1.06M (141k%)
Russia$122k (869%)
Netherlands$54.6k (18.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Natural gums, resins & other vegetable extracts BY Georgia WERE (2021 - 2022):
Israel-$198k (-100%)
China-$29.4k (-100%)
Turkmenistan-$26k (-100%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Georgia's main exporting competitors in Natural gums, resins & other vegetable extracts were:
China $2.24B
India $1.18B
Spain $920M
In 2022, Georgia's main importing competitors in Natural gums, resins & other vegetable extracts were:

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Trade Value of Natural gums, resins & other vegetable extracts by Exporters

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALNetherlands+ $106k
TOP IMPORT POTENTIALChina+ $353k

Natural gums, resins & other vegetable extracts’s highest export potential is Netherlands. With an export gap of $106k.   Natural gums, resins & other vegetable extracts’s highest import potential is China with an import gap of $353k.

See methodology.

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