Overview In 2019 Georgia was the number 116 economy in the world in terms of GDP (current US$), the number 123 in total exports, the number 103 in total imports, the number 108 economy in terms of GDP per capita (current US$) and the number 64 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Georgia are Copper Ore ($666M), Cars ($659M), Ferroalloys ($307M), Wine ($223M), and Packaged Medicaments ($171M), exporting mostly to Russia ($502M), Azerbaijan ($489M), Armenia ($398M), Bulgaria ($339M), and China ($269M).

Imports The top imports of Georgia are Cars ($894M), Refined Petroleum ($790M), Copper Ore ($382M), Packaged Medicaments ($376M), and Petroleum Gas ($373M), importing mostly from Turkey ($1.65B), China ($1.08B), Russia ($942M), United States ($632M), and Azerbaijan ($605M).

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

Historical Data

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Yearly Exports

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Top Export (2019): Copper Ore, $666M

Top Destination (2019): Russia, $502M

In 2019, Georgia exported a total of $4.23B, making it the number 123 exporter in the world. During the last five reported years the exports of Georgia have changed by $744M from $3.48B in 2014 to $4.23B in 2019.

The most recent exports are led by Copper Ore ($666M), Cars ($659M), Ferroalloys ($307M), Wine ($223M), and Packaged Medicaments ($171M). The most common destination for the exports of Georgia are Russia ($502M), Azerbaijan ($489M), Armenia ($398M), Bulgaria ($339M), and China ($269M).

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Yearly Imports

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Top Import (2019): Cars, $894M

Top Origin (2019): Turkey, $1.65B

In 2019 Georgia imported $9.92B, making it the number 103 trade destination in the world. During the last five reported years the imports of Georgia changed by $659M from $9.26B in 2014 to $9.92B in 2019.

The most recent imports of Georgia are led by Cars ($894M), Refined Petroleum ($790M), Copper Ore ($382M), Packaged Medicaments ($376M), and Petroleum Gas ($373M). The most common import partners for Georgia are Turkey ($1.65B), China ($1.08B), Russia ($942M), United States ($632M), and Azerbaijan ($605M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Georgia Exports Services (2019): $4.59B

Georgia Imports Services (2019): $2.42B

In 2019, Georgia exported $4.59B worth of services. The top services exported by Georgia in 2019 were Personal travel ($2.38B), Transportation ($1.01B), Business travel ($892M), Computer and information services ($114M), and Government services, n.i.e. ($90.8M).

The top services imported by Georgia in 2019 were Transportation ($1.28B), Business travel ($433M), Personal travel ($224M), Other business services ($132M), and Insurance services ($117M).

Tariffs by Product

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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.

*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

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Most Specialized Products by RCA Index

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Georgia has a high level of specialization in Other Isotopes (175), Water (143), Cyanides (62.7), Copper Ore (47.6), and Halides (44.3). 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

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The highest complexity exports of Georgia according to the product complexity index (PCI) are Halides and halide oxides of non-metals (1.84), Orthopaedic appliances (1.24), Articles of stone or other mineral substances, nes (1.08), Motor vehicles for transport of persons (except buses) (1.01), and Liquid, gas centrifuges, filtering, purifying machines (0.98). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Georgia according to the relatedness index, are N/A. Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Georgia is not specialized in.

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

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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.

Economic Complexity Ranking

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During the last 14 years Georgia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨54th 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.

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