25.Jan .2022 18:00

Gold Exports Down In 2021 - Where Was Georgian Gold Sold?

Gold Exports Down In 2021 - Where Was Georgian Gold Sold?
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In 2021 exports were 26.9% higher and equaled USD 4.242 million in 2021, - show the preliminary data from the National Statistics Office of Georgia (Geostat).

According to Geostat, exports of products in the Top-10 major commodity groups slightly increased at least in all groups.

In 2021, local gold exports ranked on the 10th position with a 1.5% share among the Top-10 major commodity groups. During this period, Georgia earned USD 64.2 million from the sale of 2.11 tons of gold on four export markets, the decrease amounted to 34.2% compared to 2020. Last year's gold exports also lag behind the data of 2019 (2020 – USD 97.5 million - 2.72 tons; 2019 – USD 72.8 million - 2.62 tons).

As of the official statistics, Georgian gold was exported merely in four countries. The largest amount of gold was exported in Switzerland in 2021, as a result of which Georgia earned USD 62.4 million from 2.02 tons of gold exports in this market, which is 33.7% less compared to 2020. In addition, 0.04 tons of gold worth USD 1.5 million were exported to Germany; Georgia exported 0.03 tons of goods worth USD 1 million in the United Arab Emirates, while 0.01 tons of goods worth USD 241.8 thousand were sold in Turkey.

Germany was added to the list of exporting countries for the last two years.