Georgia’s Foreign Trade in 2020

Georgia’s foreign trade turnover decreased by 14.8% in 2020 year-on-year, equaling USD 11.3 billion, according to the preliminary figures released by the National Statistics Office of Georgia (Geostat) on January 20.

Exports from Georgia decreased by 12% y/y to USD 3.3 billion, while imports decreased by 15.9% y/y to USD 8 billion. The trade gap stood at USD 4.7 billion.

Exports from Georgia to European Union (EU) member states constituted 21.5% of total exports, equaling USD 718.5 million – a 13% decrease y/y. Imports from EU amounted to USD 1.9 billion – 24.0% of total annual imports and a 17.2% decrease from 2019. 

Georgia’s exports to CIS countries were down by 24.5% y/y to USD 1.5 billion (45.2% of total exports), and imports were down by 1.8% to USD 2.3 billion (29.9% of total imports). 

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Turkey remains Georgia’s largest trading partner with USD 1.6 billion in 2020, followed by Russia, China, Azerbaijan and the U.S. with USD 1.3 billion, USD 1.2 billion, USD 934.5 million and USD 620.9 million, respectively.

They are followed by Armenia with a trade turnover of USD 610 million; Ukraine – USD 607.2 million; Germany – USD 466.9 million; Bulgaria – USD 422.7 million; Italy– USD 216 million.

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China tops the list of largest trading partners by exports with USD 476.3 million, followed by Azerbaijan, Russia, Bulgaria and Ukraine with USD 441.3 million, USD 441 million, USD 312.4 million and USD 217.4 million, respectively.

Turkey, Russia, China, the U.S. and Azerbaijan are the top trading partners of Georgia in terms of imports with USD 1.4 billion, USD 887.2 million, USD 708.7 million, USD 540.9 million and USD 493.2 million, respectively.

Copper ores and concentrates top of the list of export commodities with USD 729.4 million, followed by re-export of cars with – USD 404.1 million; ferroalloys – USD 247.3 million; wine – USD 210.3 million; spirits – USD 132.2 million; mineral waters – USD 116.6 million; medicines – USD 99.1 million; gold – USD 97.6 million; nuts – USD 94 million; precious metal ores and concentrates – USD 90.0 million; other commodities – USD 1.1 billion.

Cars are on top of the list of import commodities in Georgia’s foreign trade with USD 759.5 million, followed by copper ores and concentrates – USD 533.5 million; petroleum and petroleum oils  – USD 498.5 million; medicines – USD 327.1 million; petroleum gases – USD 294.6 million; mobile phones – USD 164.7 million; wheat – USD 108.0 million; cigarettes – USD 88.9 million; precious metal ores and concentrates – USD 77.1 million; motor vehicles for transport of goods – 72 million; other commodities – USD 5.1 billion.

Also Read: 

Georgia’s Foreign Trade in 2019

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