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2023
Flag → Flag
Exports $385MRnk 89 / 219
2023
Flag → Flag
Top Product $13.3MPackaged Medicaments
2023
Flag → Flag
Exports $52MRnk 22 / 158
2023
Flag → Flag
Top Product $19.8MOther Nuts
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.13Rnk 55 / 132
2023
Flag  
GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
 GDP$30.8BCURRENT US$
Rnk 109 / 195
2013-2023
Flag
GDP GROWTH75.7%CURRENT US$
Rnk 33 / 195
2023
Flag
GDP PC $39,003CURRENT US$
Rnk 32 / 195
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195
2023
Flag
GDP PC$8,284CURRENT US$
Rnk 94 / 196
2013-2023
Flag
GDP PC GROWTH75.8%CURRENT US$
Rnk 19 / 195

About

Italy-Georgia Trade: In 2023, Italy exported $385M to Georgia. The main products that Italy exported to Georgia were Packaged Medicaments ($13.3M), Central Heating Boilers ($11.2M), and Other Furniture ($11.1M). Over the past 5 years the exports of Italy to Georgia have increased at an annualized rate of 10.1%, from $238M in 2018 to $385M in 2023.

In 2023, Italy did not export any services to Georgia.

Georgia-Italy Trade: In 2023, Georgia exported $52M to Italy. The main products that Georgia exported to Italy were Other Nuts ($19.8M), Nitrogenous Fertilizers ($6.81M), and Knit Women's Coats ($3.85M). Over the past 5 years the exports of Georgia to Italy have decreased at an annualized rate of 5.73%,  from $74M in 2018 to $52M in 2023.

In 2023, Georgia did not export any services to Italy.

Comparison: In 2023,  Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B). That same year, Georgia ranked 55 in the Economic Complexity Index (ECI 0.13), and 123 in total exports ($6.39B).

Latest Trends

October, 2024

About

Overview In October 2024, Italy exported €3.14M and imported €4.08M from Georgia, resulting in a negative trade balance of €936k. Between October 2023 and October 2024 the exports of Italy have decreased by €-156k (-4.72%) from €3.3M to €3.14M, while imports increased by €1.52M (59.6%) from €2.56M to €4.08M.

Growth In October 2024, the decrease in Italy's year-by-year exports to Georgia was explained primarily by an decrease in product exports in . In October 2024, the increase in Italy's year-by-year imports  from Georgia was explained primarily by an increase in product imports  in N/A.

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-156k(-4.72%)
IMPORT GROWTH (October 2023 - October 2024)€1.52M(59.6%)

This section shows exports and imports data at subnational level for Italy. Click any date in the line plot or any product to explore the exports or imports behavior of Italy over time.

To check Georgia and Italy trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Georgia and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Italy exported $385M to Georgia. The main products exported from Italy to Georgia were Packaged Medicaments ($13.3M), Central Heating Boilers ($11.2M), and Other Furniture ($11.1M). During the last 5 years the exports of Italy to Georgia have increased at an annualized rate of 10.1%, from $238M in 2018 to $385M in 2023.

In 2018, Georgia exported $52M to Italy. The main products exported from Georgia to Italy were Other Nuts ($19.8M), Nitrogenous Fertilizers ($6.81M), and Knit Women's Coats ($3.85M). During the last 5 years the exports of Georgia to Italy have decreased at an annualized rate of 5.73%, from $74M in 2023 to $52M in 2018.

Exports from Italy (Flag) to Georgia (Flag) (2023)

Exports from Georgia (Flag) to Italy (Flag) (2023)

Market Competitiveness

Color
Italy
Top DestinationGermany$71.4B
Georgia
Top DestinationAzerbaijan$828M

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

In 2023, countries that imported more from Italy than Georgia included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

In 2023, countries that imported more from Georgia than Italy included Azerbaijan ($828M), Armenia ($712M), and Kyrgyzstan ($519M).

Difference in imports from Georgia (Flag) and Italy (Flag) (2023)

Comparative Advantage Italy - Georgia

Flow
Scale

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

During 2023, Italy had a large net trade with Georgia in the exports of Machines ($104M), Chemical Products ($44.1M), and Foodstuffs ($38.8M).

During 2018, Georgia had a large net trade with Italy in the exports of Vegetable Products ($20.2M), Textiles ($11.5M), and Chemical Products ($9.23M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Italy Georgia+$9.86MPackaged Medicaments
Top Product Potential Georgia Italy+$8.92MFerroalloys

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

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

Product Space of Italy (Flag) and Georgia (Flag) (2023)

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