24.Sep .2021 14:00

Georgia's Exports Down to the EU In 8M2021

Georgia's Exports Down to the EU In 8M2021
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In the first eight months of 2021, a total of $ 389 million worth of goods were exported from Georgia to the European Union, which is 11.3% less than in 2020. This means that despite the free trade regime, it is difficult for Georgia to find export commodities for the EU market.

According to the Geostat, Georgia's main export commodities to the EU in 2020 and 2021 were copper ores and concentrates. On the other hand, copper ores are not a net export of Georgia, as almost half of the product is re-export, as Georgia exports part of this commodity from Armenia.

The decline in exports of copper ores is the main reason for the reduction in exports to the EU this year.

However, exports of these products increased to China, as a result of which China overtook the EU and became Georgia's main export market.

TOP-5 Export Commodities to the EU in the first 8 months of 2021:

1. Copper ores and concentrates - $ 164 million, a decrease of 37% y-o-y;
2. Nuts - $ 28 million, an increase of 17% y-o-y;
3. Wines - $ 17.3 million, an increase of 29.4% y-o-y;
4. Scrap of gold and other precious metals - $ 16.8 million, an increase of 201% y-o-y;
5. Cars - $ 16.7 million, an increase of 78% y-o-y.