21.Jan .2021 10:00

How did the rating of Georgia’s top trading partners by exports change in 2020?

How did the rating of Georgia’s top trading partners by exports change in 2020?
views 128
Back

A total of $ 3.34 billion worth of goods were exported from Georgia in 2020. Exports fell by 456 million USD, or 12% amid the economic crisis.

According to the Geostat report, last year Azerbaijan lost the status of Georgia's top trading partner by exports and China took the position, where exports were 113% up amounting to 476 million USD.

Exports to Armenia were 56% down in 2020 amounting to $ 187 million in 2020. Armenia ranks as the 7th in the rating, while the country occupied the 3rd position in 2019. Russia moved from second to third place, where goods worth $ 441 million were exported in 2020.

Georgia’s top trading partners by exports:

1. China - 476 million USD, increase of 113.4% y-o-y;
2. Azerbaijan - 441.3 million USD, decrease of 13.2% y-o-y;
3. Russia - 441 million USD, decrease of 11.2% y-o-y;
4. Bulgaria - 312 million USD, increase of 10% y-o-y;
5. Ukraine - 217 million USD, decrease of 13.4% y-o-y;
6. Turkey - 190 million USD, decrease of 5.8% y-o-y;
7. Armenia - 187 million USD, decrease of -56.6% y-o-y;
8. Switzerland - 106 million USD, increase of 28.8% y-o-y;
9. Spain - 83 million USD, increase of 82% y-o-y;
10. US - 80 million USD, decrease of -39.5% y-o-y;
11. Other countries - 805 million USD, decrease of -29.3% y-o-y.

In 2020, exports decreased by 15.9%, or 1.5 billion USD, amounting to 8 billion USD. Turkish imports fell by 210 million USD to 1.4 billion USD. Imports from Russia fell by more than 90 million USD, while - from China by 150 million USD.