Georgia achieves record year for international trade in 2021

0


The State of Georgia had a banner year for international trade. In 2021, Georgia’s total trade reached $166.11 billion across 223 countries and territories. As reported by the GDEcD International Trade Team, Georgia set an export record of $42.36 billion in 2021.

“To be ranked seventh in total trade value is no small feat, and I applaud our state’s trade team and Georgian businesses for these results,” Governor Kemp said. “With over 85% of our state’s exporters categorized as small business, Georgia’s global business success once again demonstrates their resilience, tenacity and why they are considered the backbone of our economy. You can manufacture anything, anywhere in Georgia, and reach markets around the world. I’m especially proud to see that manufacturing and agricultural exports come from every county in the state of Peach.

In 2021, the state’s top five trading partners were China, Mexico, Canada, Germany, and Korea. Among Georgia’s top 10 markets, trade with India and Vietnam saw the highest growth in 2021. Georgia ranks 7th in the United States in dollar value of trade. Backed by Georgia’s deep-water ports and convenient southeast location, the top commodities traded in 2021 were motor vehicles, civilian aircraft, and gas turbine parts.

“The 2021 Trade Report confirms that global demand for Georgian goods has returned to pre-pandemic levels,” said Pat Wilson, Commissioner of Georgia’s Ministry of Economic Development. “Thank you to our international trade team, international representatives, and economic development partners across the state for their dedicated work in not only helping Georgian businesses achieve their goals, but also maintaining our leadership status on the world market.”

With Georgian companies exporting to 215 unique export destinations, Georgia ranks 12th in the United States for dollar value of exports. In addition to the international trade team, GDEcD’s Innovation Center works in tandem with key industries to develop processes and maximize production success, including in manufacturing, logistics, logistics, and manufacturing. ‘AgTech and aerospace, all of which contribute to Georgia’s exports. Aerospace products remain Georgia’s top export, totaling $9.19 billion in 2021, and Georgia is the third-largest aerospace exporter in the United States. Exports of agricultural and forestry products increased by 13% in 2021 to reach $4.9 billion. Imports in 2021 reached $123.7 billion, up 25% from 2020.

“We were pleased to see that Georgia recorded 20% growth in total trade after a challenging year,” said Mary Waters, GDEcD Deputy Commissioner for International Trade. “I am particularly pleased with the 9% growth in exports over the past year. The content of the 2021 Trade Report is a true testimony of Georgian businesses that faced many uncertainties and continued to persevere to share their goods with the world. »

The state’s international business efforts are led by a team based in Georgia as well as representatives in 12 international markets around the world. Georgia’s international representatives play a vital role in facilitating trade and introducing Georgian exporters to new global customers. Almost 60% of bilateral trade and 52% of exports were in markets where Georgia maintains full-time representation.

Support from the Georgia Office of International Trade is one of the added benefits of doing business in the state and is available to all Georgia-based businesses. For upcoming trade shows, additional export resources, and information about the state’s International Trade Services, visit www.georgia.org/international/trade.

Read the full 2021 business report below.

2021_trade_report_-_22it138_6


About the GDEcD International Trade Team
Georgia’s Department of Economic Development’s nationally recognized international trade team works to strengthen Georgian exports and position the state as a competitive source of quality products and services. The team includes international representatives located in 12 strategic global markets and helps Georgian companies expand their sales worldwide. The International Trade Office provides Georgian businesses with the information and global connections they need to successfully diversify their international customer base.


AllOnGeorgia




Share.

Comments are closed.