About

Overview In 2021, Georgia was the number 119 economy in the world in terms of GDP (current US$), the number 120 in total exports, the number 109 in total imports, the number 120 economy in terms of GDP per capita (current US$) and the number 64 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Georgia are Copper Ore ($852M), Ferroalloys ($474M), Cars ($453M), Wine ($239M), and Refined Petroleum ($204M), exporting mostly to China ($632M), Russia ($613M), Azerbaijan ($528M), Turkey ($375M), and Ukraine ($309M).

Imports The top imports of Georgia are Cars ($860M), Refined Petroleum ($856M), Petroleum Gas ($427M), Copper Ore ($417M), and Packaged Medicaments ($393M), importing mostly from Turkey ($1.83B), China ($993M), Russia ($978M), United States ($701M), and Azerbaijan ($663M).

Location Georgia borders Armenia, Azerbaijan, Russia, and Turkey by land and Ukraine by sea.

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Georgia.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2021)Copper Ore$852M
Top Destination (2021)China$632M

In 2021, Georgia exported a total of $5.02B, making it the number 120 exporter in the world. During the last five reported years the exports of Georgia have changed by $2.45B from $2.57B in 2016 to $5.02B in 2021.

The most recent exports are led by Copper Ore ($852M), Ferroalloys ($474M), Cars ($453M), Wine ($239M), and Refined Petroleum ($204M). The most common destination for the exports of Georgia are China ($632M), Russia ($613M), Azerbaijan ($528M), Turkey ($375M), and Ukraine ($309M).

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Exports (2021)
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Destinations (2021)
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Market Growth

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Fastest Growing Export Markets (2020 - 2021)
Russia$170M (+ 38.5%)
Turkey$148M (+ 65%)
China$132M (+ 26.5%)
Fastest Growing Import Markets (2020 - 2021)
Turkey$354M (+ 23.9%)
Azerbaijan$173M (+ 35.2%)
Indonesia$153M (+ 461%)

Total Export Growth by Market (2020 - 2021)

Service Trade

Service Trade

Georgia Exports Services (2020)$1.53B
Georgia Imports Services (2020)$1.45B

In 2020, Georgia exported $1.53B worth of services. The top services exported by Georgia in 2020 were Other transport ($528M), Personal travel ($387M), Business travel ($155M), Sea transport ($107M), and Miscellaneous business, professional, and technical services ($79.4M).

The top services imported by Georgia in 2020 were Other transport ($424M), Sea transport ($274M), Miscellaneous business, professional, and technical services ($123M), Air transport ($110M), and Business travel ($95.8M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)-0.0097Rank 64 of 131
Economic Complexity (Technology)-0.94Rank 74 of 96
Economic Complexity (Research)0.6Rank 33 of 140

Most Specialized Products by RCA Index

Georgia has a high level of specialization in Water (139), Other Isotopes (125), Cyanides (81.1), Sheep and Goats (56.2), and Ferroalloys (45.9). Specialization is measured using RCA, an index that takes the ratio between Georgia observed and expected exports in each product.

Most Complex Products by PCI

Export Opportunities by Relatedness

The top export opportunities for Georgia according to the relatedness index, were Crude Petroleum (0.18), Tropical Fruits (0.18), Cement (0.17), Non-fillet Frozen Fish (0.17), and Legumes (0.17). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Georgia is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Georgia. These are products that tend to be co-exported with the products that Georgia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Georgia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨nullth to the 64th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

ECI (Trade) Ranking by Country

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