Georgia (GEO) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Georgia-Italy Trade: In 2022, Georgia exported $73.4M to Italy. The main products that Georgia exported to Italy were Other Nuts ($30.1M), Ferroalloys ($18M), and Refined Petroleum ($5.56M). Over the past 5 years the exports of Georgia to Italy have decreased at an annualized rate of 1.47%, from $79M in 2017 to $73.4M in 2022.

In 2022, Georgia did not export any services to Italy.

Italy-Georgia Trade: In 2022, Italy exported $296M to Georgia. The main products that Italy exported to Georgia were Liquid Dispersing Machines ($11.8M), Packaged Medicaments ($8.84M), and Other Furniture ($7.97M). Over the past 5 years the exports of Italy to Georgia have increased at an annualized rate of 6.9%, from $212M in 2017 to $296M in 2022.

In 2022, Italy did not export any services to Georgia.

Comparison: In 2022, Georgia ranked 64 in the Economic Complexity Index (ECI 0.036), and 118 in total exports ($6.82B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Georgia exported $73.4M to Italy. The main products exported from Georgia to Italy were Other Nuts ($30.1M), Ferroalloys ($18M), and Refined Petroleum ($5.56M). During the last 5 years the exports of Georgia to Italy have decreased at an annualized rate of 1.47%, from $79M in 2017 to $73.4M in 2022.

In 2017, Italy exported $296M to Georgia. The main products exported from Italy to Georgia were Liquid Dispersing Machines ($11.8M), Packaged Medicaments ($8.84M), and Other Furniture ($7.97M). During the last 5 years the exports of Italy to Georgia have increased at an annualized rate of 6.9%, from $212M in 2022 to $296M in 2017.

Exports from Georgia () to Italy () (2022)

Exports from Italy () to Georgia () (2022)

Latest Data

Trade between Georgia () and Italy ()

Georgia Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Georgia
Top DestinationChina$759M

Italy
Top DestinationGermany$78.5B

This map shows whether countries import more from Georgia or Italy. Each country is colored based on the difference in imports they receive from Georgia and Italy or the difference in the growth in imports.

In 2022, countries that imported more from Georgia than Italy included Azerbaijan ($668M), Armenia ($571M), and Kyrgyzstan ($92.5M).

In 2022, countries that imported more from Italy than Georgia included Germany ($78.5B), United States ($68.2B), and France ($63.8B).

Difference in imports from Italy () and Georgia () (2022)

Comparative Advantage Georgia - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Georgia and Italy by product, considering products traded by both, Georgia and Italy.

During 2022, Georgia had a large net trade with Italy in the exports of Vegetable Products ($30.4M), Metals ($22.3M), and Mineral Products ($6.01M).

During 2017, Italy had a large net trade with Georgia in the exports of Machines ($90.1M), Chemical Products ($32.7M), and Foodstuffs ($25M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Georgia Italy+$8.92MFerroalloys

Top Product Potential Italy Georgia+$9.86MPackaged Medicaments

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Georgia and Italy. This means that a dot/product with the flag of Georgia indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Georgia.

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Historical Data

Bilateral Trade by Products

Exports from Georgia () to Italy () (2022)

Exports from Italy () to Georgia () (2022)

Latest Data

Trade between Georgia () and Italy ()

Georgia Exports

Italy Exports

Market Competitiveness

Difference in imports from Italy () and Georgia () (2022)

Comparative Advantage Georgia - Italy

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Georgia () and Italy () (2022)

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