Observatory of Economic Complexity

Flag Georgia

Econ Complexity (2018): 0.037, Rank 63 of 137

Product Exports (2018): $3.82B, Rank 121 of 222

Exports Per Capita (2018): $1.03k, Rank 85 of 219

Product Imports (2018): $9.16B, Rank 107 of 221

Imports Per Capita (2018): $2.46k, Rank 78 of 219

Service Exports (2018): $4.45B, Rank 46 of 88

Service Imports (2018): $2.24B, Rank 58 of 88

GDP (2018): $17.6B, CURRENT US$
Rank 118 of 196

GDP growth (2008 - 2018): 37.6%, CURRENT US$
Rank 102 of 196

GDP PC (2018): $4,717, CURRENT US$
Rank 112 of 196

GDP PC GROWTH (2008 - 2018): 41.9%, CURRENT US$
Rank 56 of 196

About

#permalink to section

Overview: In 2018 Georgia was the number 118 economy in the world in terms of GDP (current US$), the number 121 in total exports, the number 107 in total imports, the number 112 economy in terms of GDP per capita (current US$) and the number 63 most complex economy according to the Economic Complexity Index (ECI)

Exports: The top exports of Georgia are Copper Ore ($520M), Cars ($387M), Ferroalloys ($358M), Wine ($197M), and Rolled Tobacco ($149M), exporting mostly to Azerbaijan ($498M), Russia ($439M), Bulgaria ($320M), Armenia ($267M), and Turkey ($244M).

Imports: The top imports of Georgia are Refined Petroleum ($869M), Cars ($502M), Packaged Medicaments ($334M), Petroleum Gas ($285M), and Rolled Tobacco ($208M), importing mostly from Turkey ($1.44B), Russia ($991M), China ($926M), Azerbaijan ($492M), and Ukraine ($485M).

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

Product Trade

#permalink to section

Yearly Exports

#permalink to section
Value
Depth

Top Export (2018): Copper Ore, $520M

Top Destination (2018): Azerbaijan, $498M

In 2018, Georgia exported a total of $3.82B, making it the number 121 exporter in the world. During the last five reported years the exports of Georgia have changed by $388M from $3.43B in 2013 to $3.82B in 2018.

The most recent exports are led by Copper Ore ($520M), Cars ($387M), Ferroalloys ($358M), Wine ($197M), and Rolled Tobacco ($149M). The most common destination for the exports of Georgia are Azerbaijan ($498M), Russia ($439M), Bulgaria ($320M), Armenia ($267M), and Turkey ($244M).

Explore Visualizations

Yearly Imports

#permalink to section
Value
Depth

Top Import (2018): Refined Petroleum, $869M

Top Origin (2018): Turkey, $1.44B

In 2018 Georgia imported $9.16B, making it the number 107 trade destination in the world. During the last five reported years the imports of Georgia changed by $479M from $8.68B in 2013 to $9.16B in 2018.

The most recent imports of Georgia are led by Refined Petroleum ($869M), Cars ($502M), Packaged Medicaments ($334M), Petroleum Gas ($285M), and Rolled Tobacco ($208M). The most common import partners for Georgia are Turkey ($1.44B), Russia ($991M), China ($926M), Azerbaijan ($492M), and Ukraine ($485M).

Explore Visualizations

Monthly Trade

#permalink to section

Market Growth

#permalink to section
Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Service Trade

#permalink to section

Service Trade

#permalink to section

Georgia Exports Services (2018): $4.45B

Georgia Imports Services (2018): $2.24B

In 2018, Georgia exported $4.45B worth of services. The top services exported by Georgia in 2018 were Personal travel ($2.3B), Business travel ($919M), Other transport ($545M), Air transport ($296M), and Sea transport ($127M).

The top services imported by Georgia in 2018 were Other transport ($614M), Air transport ($333M), Business travel ($331M), Sea transport ($310M), and Personal travel ($194M).

Forecasts

#permalink to section

Trade Forecasts

#permalink to section

This section shows forecasts for total product exports and imports for Georgia. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

Explore Forecasts

Tariffs

#permalink to section

Tariffs by Product

#permalink to section

The top product import tariffs by their MFN Ad Valorem value for Georgia are Ethyl alcohol and other spirits, denatured (226%) and Fermented beverages nes (eg cider, perry, mead, etc) (16.6%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

Explore Tariff Data

*The tariffs applied to imports for Georgia are:
136: Most Favoured Nation duty rate treatement
190: Preferential tariff for Commonwealth of Independent States (CIS) countries
322: Preferential tariff for Turkey

Economic Complexity

#permalink to section

Economic Complexity Ranking

#permalink to section
Scale

During the last 13 years Georgia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨50th to the 63rd⁩ 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

Most Specialized Products by RCA Index

#permalink to section

Georgia has a high level of specialization in Water (129), Cyanides (88.5), Ferroalloys (50.3), Copper Ore (39), and Fish Oil (28.1). 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

#permalink to section

The highest complexity exports of Georgia according to the product complexity index (PCI) are Halides and halide oxides of non-metals (1.69), Air, vacuum pumps, compressors, ventilating fans, etc (1.21), Equipment for soldering, brazing or welding (1.2), Furnace burners, equipment, liquid, powder or gas fuel (0.97), and Derricks, cranes, straddle carriers, crane trucks (0.95). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Georgia according to the relatedness index, are Crude Petroleum (0.18), Tropical Fruits (0.17), Other Oily Seeds (0.17), Raw Sugar (0.17), and Crustaceans (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

#permalink to section

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 it is currently specialized in.

Diversification Frontier

#permalink to section
Filter
Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.

Related Profiles

Created, Designed, and Developed by:
  • Datawheel Logo
With the support of:
  • ConnectAmericas
  • INTAL

Have questions, comments, or concerns?

Send us an e-mail: [email protected]

v4.0.2 ant