Georgia’s local exports hit record $1.55bn in four months

Georgia’s local exports reached a record level in January–April, increasing by 73.5% year-on-year, Geostat says.

The country received $1 billion 551 million from local exports in the first four months of the year, compared to around $1.2 billion in the same period of 2022.

Local exports’ share in total exports rose to 63.6%, marking a historical high for the period. Overall exports increased by 21.1% year-on-year to $2 billion 440 million.

Geostat says the growth was largely driven by the start of oil and oil products processing in Georgia and their subsequent export. In January–April, these products accounted for about a fifth of total local exports, showing a significant increase compared to last year.

Exports of all goods in the top 10 export categories increased, while sales of alcoholic beverages declined.

Major commodity groups by domestic exports. Source: Geostat.

The share of the 10 largest export destinations stood at 69%, with China remaining the largest market. Exports of copper and precious metal ores to China increased significantly over the period.