Exports of the ferroalloys from Georgia fell by USD 280 million or 61% in 2023, - such a sharp decrease has never been observed in the last decade.
Ferroalloys was one of the main products of Georgia's heavy industry, which employed thousands of people in the past, but due to falling prices, it faced a crisis in 2023.
According to Geostat, during 2023, 157 thousand tons of ferroalloys USD 180 million worth, were sent abroad from Georgia. Accordingly, one ton of goods cost USD 1,149 on average.
By comparison, 229,000 tons of ferroalloys were exported in 2022, the earnings made up USD 2,007 per ton, bringing the total sector revenue to USD 460 million.
According to Geostat, the ferroalloy price was less than USD 1000 per ton in 2015; 2016 and 2020, but in 2023, the difficulty in the heavy industry was caused by a sharp decrease in the price compared to the previous year.
In 2013 - $230,747,980, export volume 222,669 tons, price per ton $1,036
In 2014 - $285,805,820, export volume 269,781 tons, price per ton $1,059
In 2015 - $194,765,880, export volume 219,231 tons, price per ton $888
In 2016 - $169,300,620, export volume 229,029 tons, price per ton $739
In 2017 - $306,369,190, export volume 281,213 tons, price per ton $1,089
In 2018 - $352,938,860, export volume 298,392 tons, price per ton $1,183
In 2019 - $303,384,850, export volume 274,848 tons, price per ton $1,104
In 2020 - $247,329,060, export volume 250,652 tons, price per ton $987
In 2021 - $477,432,790, export volume 299,385 tons, price per ton $1,595
In 2022 - $459,803,300, export volume 229,094 tons, price per ton $2,007
In 2023 - $180,661,850, export volume 157,235 tons, price per ton $1,149
