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2022
Economic Complexity
Trade 0.036Rank 64 of 133
2021
Economic Complexity
Technology -0.94Rank 74 of 96
2022
Economic Complexity
Research 0.77Rank 28 of 135
2022
Product
Exports | Imports $6.82B | $14.7B118 of 226 |  103 of 226
2022
Per Capita Product
Exports | Imports $1.84k | $3.96k97 of 220 |  119 of 220

About

Overview In 2022, Georgia was the number 109 economy in the world in terms of GDP (current US$), the number 118 in total exports, the number 103 in total imports, the number 99 economy in terms of GDP per capita (current US$) and the number 64 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Georgia are Copper Ore ($1.03B), Cars ($886M), Nitrogenous Fertilizers ($728M), Ferroalloys ($471M), and Wine ($253M), exporting mostly to China ($759M), Azerbaijan ($668M), Russia ($642M), Armenia ($571M), and Bulgaria ($502M).

Imports The top imports of Georgia are Cars ($1.67B), Refined Petroleum ($1.47B), Petroleum Gas ($461M), Packaged Medicaments ($433M), and Copper Ore ($325M), importing mostly from Turkey ($2.49B), Russia ($1.83B), China ($1.24B), United States ($1.14B), and Germany ($673M).

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

Latest Trends

Latest Trade

Flow
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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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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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 (2022)Copper Ore$1.03B
Top Destination (2022)China$759M

In 2022, Georgia exported a total of $6.82B, making it the number 118 exporter in the world. During the last five reported years the exports of Georgia have changed by $3.53B from $3.29B in 2017 to $6.82B in 2022.

The most recent exports are led by Copper Ore ($1.03B), Cars ($886M), Nitrogenous Fertilizers ($728M), Ferroalloys ($471M), and Wine ($253M). The most common destination for the exports of Georgia are China ($759M), Azerbaijan ($668M), Russia ($642M), Armenia ($571M), and Bulgaria ($502M).

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Exports (2022)
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Destinations (2022)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2021 - 2022)
Armenia$316M (+ 124%)
India$286M (+ 896%)
Bulgaria$190M (+ 60.8%)
Fastest Growing Import Markets (2021 - 2022)
Russia$854M (+ 87.1%)
Turkey$654M (+ 35.6%)
United States$440M (+ 62.7%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

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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)0.036Rank 64 of 133
Economic Complexity (Technology)-0.94Rank 74 of 96
Economic Complexity (Research)0.77Rank 28 of 135

Most Specialized Products by RCA Index

Georgia has a high level of specialization in Manganese Oxides (120), Water (85.1), Cyanides (43.4), Nitrogenous Fertilizers (42.1), and Sheep and Goats (40.3). 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

The highest complexity exports of Georgia according to the product complexity index (PCI) are Cermets; articles thereof, including waste and scrap (1.53), Reagents; diagnostic or laboratory reagents on a backing and prepared diagnostic or... (1.45), Halides and halide oxides of non-metals (1.31), Bulldozers, graders, levellers, scrapers, angledozers, mechanical shovels, excavators, shovel loaders, tamping machines... (1.18), and Knitting machines, stitch-bonding machines and machines for making gimped yarn, tulle, lace,... (1.17). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Georgia according to the relatedness index, were Crude Petroleum (0.18), Tropical Fruits (0.18), Other Ores (0.18), Cement (0.17), and Other Oily Seeds (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.

Relatedness Space (2022)

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.

Diversification Frontier

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.

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ECI (Trade) Ranking by Country

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