15.Feb .2021 10:00

What are the major export items from Georgia to Switzerland?

What are the major export items from Georgia to Switzerland?
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According to Geostat, precious stones and metals are the main export products from Georgia to Switzerland, which volume has made up 65.1 million USD in 2019, while the figure stands at 92.4 million USD in 2020.

Swiss Ambassador to Georgia Patrick Franzen explains that Switzerland is an important global trade hub and moreover, the Swiss watch and jewelry industry is interested in high-quality precious metals.

For reference, last year, Switzerland had a negative trade balance in favor of Georgia. According to Geostat, exports worth 106.8 million USD was made from Georgia to Switzerland in 2020, while imports amounted to 61.8 million USD.

According to the Swiss Ambassador, in 2020 Switzerland was the eighth largest export market for Georgian products and the second most important importer of Georgian products among the EU countries and countries of the European Free Trade Association (EFTA).

"Despite the coronavirus and Nagorno-Karabakh crisis in 2020, trade turnover between the two countries has increased by 5.1% compared to 2019. Therefore, our economic ties are at a very high level, it is still possible to further improve and diversify," - said the ambassador.