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Georgia’s exports set a new record in 2021, surpassing the previous peak after last year’s fall

Georgia exports grew 9 percent in 2021 to $ 42.36 billion, a record that restored the state’s growth trajectory to the pandemic and showed that the decline in the previous year was an anomaly.

Total trade – the sum of exports and imports – also reached an unprecedented $ 166.11 billion, up 20 percent from the previous year, when the U.S. and global economies recovered from the disruptions caused by COVID-19 in 2020.

Georgia was the 12th largest U.S. state in terms of exports, slipping by one position, still ahead of its competitors around the world. Southeastern United States Georgia ranks seventh in the country in terms of total trade.

In terms of exports, Canada was the state’s largest buyer, buying goods for $ 6.1 billion with a growth rate of 17.8 percent. Slightly faster growth rates were noted by most other markets, which close the top five – China (No. 2 – an increase of 22 percent), Mexico (3 – 19.7 percent) and Singapore (5 – 23.4 percent).

GermanyThe country’s fourth-largest buyer was an exception, as Georgia’s exports to the country fell by almost 40 percent, perhaps a correction from the previous year, when exports to the country grew by 47 percent. The total trade turnover with Germany also decreased by 2.8 percent in 2021.

Another important decline in exports was a 2 percent drop in exports to the country Japanwhich dropped the country to 7th place in the list of Georgia’s export destinations, and 10.6% fell to The United Kingdom, another traditional fortress that has slipped to No. 9.

The growth of both imports and exports was India, which over the past few years has become an increasingly important trading partner on both sides of the equation. Imports from India rose sharply by almost 58 percent to $ 3.6 billion, presumably because more manufacturers began purchasing purchases from the world’s largest democracy to offset tariffs and geopolitical risks in China.

Similar trends could come to life VietnamGrowth of 48.3 percent as a source market to $ 4.9 billion in imports, a huge growth that reached an already impressive growth rate of 51 percent in 2020 – the highest among all of Georgia’s import partners that year. With the absence of top 10 state partners in imports, Vietnam has risen to 7th place in two short years.

However, to a greater extent than Vietnam, India has become a major buyer of Georgian products; exports in 2021 grew by 38.7 percent, making the country a billion-dollar export market for the first time and raising it to 7th place in the list of export destinations. In terms of total trade, India ranked 9th – for the first time eclipsed the UK as a trading partner.

China continued to be the state’s main trading partner as a whole, despite deteriorating bilateral relations. As the world’s second-largest economy continues to grow after recovering from the shock of the pandemic in early 2020, Georgia’s exports to China grew by 22 percent, even as tariff levels on both sides remained elevated.

Georgia also for the first time Global Atlanta tracked these reports on what mode of transport goods arrived in the state. Breakdown: $ 103 billion through seaports in Savannah and Brunswick and $ 35.7 billion by air. The rest are believed to have arrived by truck from Canada and Mexico.

Read the full report here or see it built-in below.

Georgia’s main exports by product category:

  1. Civil aviation – $ 7.2 billion
  2. Cars – $ 3.6 billion
  3. Details of gas turbines – $ 1.4 billion
  4. Timber – $ 1.2 billion
  5. The bird is $ 1.2 billion
  6. Medical instruments – $ 998 million
  7. Kraft paper and cardboard – $ 912 million
  8. Automatic data processing – $ 8.34 billion
  9. Cotton – 734 million dollars
  10. Insecticides – $ 547 million

Georgia’s main imports by product categories:

  1. Motor transport – 10.2 billion dollars
  2. Food – $ 3.5 billion
  3. Immunological products – $ 3.1 billion
  4. Automotive parts – $ 2.9 billion
  5. Automatic data processing – $ 2.5 billion
  6. Electrical apparatus for linear telephony or linear telegraphy – $ 2.5 billion
  7. Furniture – $ 2.4 billion
  8. Details of gas turbines – $ 2.4 billion
  9. Construction machinery – $ 2.3 billion
  10. Televisions – $ 2.3 billion

2021_trade_report _-_ 22it138_8

Reported by Source link

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Georgia’s exports set a new record in 2021, surpassing the previous peak after last year’s fall

Georgia exports grew 9 percent in 2021 to $ 42.36 billion, a record that restored the state’s growth trajectory to the pandemic and showed that the decline in the previous year was an anomaly.

Total trade – the sum of exports and imports – also reached an unprecedented $ 166.11 billion, up 20 percent from the previous year, when the U.S. and global economies recovered from the disruptions caused by COVID-19 in 2020.

Georgia was the 12th largest U.S. state in terms of exports, slipping by one position, still ahead of its competitors around the world. Southeastern United States Georgia ranks seventh in the country in terms of total trade.

In terms of exports, Canada was the state’s largest buyer, buying goods for $ 6.1 billion with a growth rate of 17.8 percent. Slightly faster growth rates were noted by most other markets, which close the top five – China (No. 2 – an increase of 22 percent), Mexico (3 – 19.7 percent) and Singapore (5 – 23.4 percent).

GermanyThe country’s fourth-largest buyer was an exception, as Georgia’s exports to the country fell by almost 40 percent, perhaps a correction from the previous year, when exports to the country grew by 47 percent. The total trade turnover with Germany also decreased by 2.8 percent in 2021.

Another important decline in exports was a 2 percent drop in exports to the country Japanwhich dropped the country to 7th place in the list of Georgia’s export destinations, and 10.6% fell to The United Kingdom, another traditional fortress that has slipped to No. 9.

The growth of both imports and exports was India, which over the past few years has become an increasingly important trading partner on both sides of the equation. Imports from India rose sharply by almost 58 percent to $ 3.6 billion, presumably because more manufacturers began purchasing purchases from the world’s largest democracy to offset tariffs and geopolitical risks in China.

Similar trends could come to life VietnamGrowth of 48.3 percent as a source market to $ 4.9 billion in imports, a huge growth that reached an already impressive growth rate of 51 percent in 2020 – the highest among all of Georgia’s import partners that year. With the absence of top 10 state partners in imports, Vietnam has risen to 7th place in two short years.

However, to a greater extent than Vietnam, India has become a major buyer of Georgian products; exports in 2021 grew by 38.7 percent, making the country a billion-dollar export market for the first time and raising it to 7th place in the list of export destinations. In terms of total trade, India ranked 9th – for the first time eclipsed the UK as a trading partner.

China continued to be the state’s main trading partner as a whole, despite deteriorating bilateral relations. As the world’s second-largest economy continues to grow after recovering from the shock of the pandemic in early 2020, Georgia’s exports to China grew by 22 percent, even as tariff levels on both sides remained elevated.

Georgia also for the first time Global Atlanta tracked these reports on what mode of transport goods arrived in the state. Breakdown: $ 103 billion through seaports in Savannah and Brunswick and $ 35.7 billion by air. The rest are believed to have arrived by truck from Canada and Mexico.

Read the full report here or see it built-in below.

Georgia’s main exports by product category:

  1. Civil aviation – $ 7.2 billion
  2. Cars – $ 3.6 billion
  3. Details of gas turbines – $ 1.4 billion
  4. Timber – $ 1.2 billion
  5. The bird is $ 1.2 billion
  6. Medical instruments – $ 998 million
  7. Kraft paper and cardboard – $ 912 million
  8. Automatic data processing – $ 8.34 billion
  9. Cotton – 734 million dollars
  10. Insecticides – $ 547 million

Georgia’s main imports by product categories:

  1. Motor transport – 10.2 billion dollars
  2. Food – $ 3.5 billion
  3. Immunological products – $ 3.1 billion
  4. Automotive parts – $ 2.9 billion
  5. Automatic data processing – $ 2.5 billion
  6. Electrical apparatus for linear telephony or linear telegraphy – $ 2.5 billion
  7. Furniture – $ 2.4 billion
  8. Details of gas turbines – $ 2.4 billion
  9. Construction machinery – $ 2.3 billion
  10. Televisions – $ 2.3 billion

2021_trade_report _-_ 22it138_8

Reported by Source link

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