19.Oct .2020 18:00

China Has Become Georgia’s Main Export Market

China Has Become Georgia’s Main Export Market
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In total, Georgia's trade turnover in January-September amounted to $8.1 billion, which is 14.9% less than the previous year. Exports were $ 2.4 billion (down 14.9%), and imports were $ 5.7 billion (down 15.9%). In terms of individual countries, the most - $ 355 million worth of goods went to China. The annual growth in exports is 184%.

In the same period of 2019, Georgia's main export market was Russia, where exports exceeded $ 370 million, but due to the coronavirus crisis, exports to Russia are reduced by 17%. In addition to Russia, exports have declined to traditional markets such as Ukraine, Azerbaijan, and Turkey. In total, there is such a trend in the 10 main export markets of Georgia:

  1. China - $ 355.3 million, an increase of 184.4% over the previous year;
  2. Azerbaijan -327.8 million dollars, a decrease from the previous year -9.3%
  3. Russia - 308 million dollars, a decrease of 16.8% over the previous year;
  4. Bulgaria - $ 229 million, an increase of 13.1% over the previous year;
  5. Ukraine - $ 145 million, a decrease of -22.3% over the previous year;
  6. Turkey - $ 142 million, a decrease of -7.9% over the previous year;
  7. Armenia - $ 139 million, a decrease of -49.3% over the previous year;
  8. Switzerland - $ 74 million, an increase of 29.5% over the previous year;
  9. Spain - $ 66 million, an increase of 56.5% over the previous year;
  10. US - $ 59 million, a decrease of -39.7% over the previous year;
  11. Other countries - a total of 296.2 decrease compared to the previous year -35.6%.

According to Geostat, the main driver of exports to China was the tripling of copper ores exports and concentrates. In January-September, 203 thousand tons of copper ores worth $ 298 million were exported to China.

In second place is the export of precious metal ores, which amounted to $ 26 million, and in third place is the export of Georgian wine with $ 9.5 million.