China has become the number one export country for Georgia in 2020. As of January-October, 2020, 15.43% of total export accounts for the goods and services exported to China, which amounts to 418.9 million USD. The rate exceeds both for the same period of the last year and the whole 2019 as well.
However, China’s share in Georgia’s total exports has made up 5.87% or 223.1 million USD in 2019. Its share in the trade turnover is grown up to 223.1 million USD, which exceeds by 2.75 percentage points comparing to the same period of the last year. The reason is the reduction of imports from China, which is carried out on a larger scale than exports.
In the first ten months of 2020, goods and services worth $ 572.9 million were imported from China, accounting for 8.89% of the total value. This is a decrease compared to the same period of the last year, as imports worth 721.2 million US dollars were made in 2019, thus China accounted for 9.34% of Georgia's total imports.
The growth of exports to China is related to Georgia's number one export commodity [and not only] - copper ores. In particular, as of January this year, the value of copper ores exported to China amounted to 350.1 million US dollars, which was 171.6 million US dollars in total in 2019.
In addition, besides the copper ores and concentrates, wine of 824,772 liters were exported from Georgia to China made up 10.9 million USD in 2020.
It is noteworthy that, the largest volume of wine exports in 2017 amounted to 5,413,272 liters, which totaled $ 20.5 million. In 2019, 5,204,196 liters of wine were exported from Georgia to China, which was worth $ 18.9 million. Accordingly, the average cost of one liter of wine exported to China last year was $ 3.6, up from $ 4.0 in the previous 2018.
