Georgia Import Data

Georgia's Import/Export Overview and Domestic Market Update

Imports & Exports

• Top Trade Partners: Georgia's leading trade partners include Turkey, China, Russia, Azerbaijan, and the United States, reflecting its strategic location and diversified economic relationships.

• Top Imports: The country's top imports are machinery, vehicles, and pharmaceutical products, accounting for a significant portion of its total imports, emphasizing the need for technological and medical supplies.

• Top Exports: Georgia's major exports include wine, mineral water, and copper ores, which make up a considerable part of its export basket, highlighting its natural resource endowments and agricultural capabilities.

• Trade Balance: Georgia experiences a trade deficit, importing more than it exports, though targeted economic policies aim to enhance competitiveness and diversify exports.

• Trade Policies: The government has implemented several initiatives to facilitate trade, including free trade agreements with the EU and China, aiming to expand markets and attract foreign investment.

Domestic Market

• Consumer Spending: Consumer spending in Georgia is on the rise, driven by growing disposable incomes and increasing confidence in the economy, despite inflationary pressures.

• Interest Rates & Inflation: Interest rates have been adjusted to counteract inflation, which has been relatively high due to global factors, impacting the cost of living and borrowing costs.

• Supply Chain Dynamics: Supply chains have shown resilience, though disruptions in global markets have led to increased costs and delays, affecting the import of raw materials and consumer goods.

• Industry Performance: Key industries such as tourism, agriculture, and technology have shown robust growth, while manufacturing sectors are adapting to meet international standards and demand.

Overall Outlook

Georgia's economy is poised for expansion, bolstered by its strategic location, growing domestic market, and increasing integration into global trade networks. Challenges, including trade deficits and inflation, are being addressed through policy adjustments and economic reforms, promising a stable and prosperous future.