BAKU, Azerbaijan, Feb.11
By Tamilla Mammadova – Trend:
Auto exports value exceeded $4.4 billion in Georgia for 2020, being among the top exported commodities, Trend reports via Georgian media.
In 2019, car exports rebounded, but in 2020, due to the economic crisis caused by the pandemic and COVID regulations, it has dropped.
The industry is 100 percent made on re-export basis.
In 2001-2004, vehicles re-exports were not systemic. Its share in total exports was less than 0.6 percent. The business has been growing since 2005 and peaked in 2012-2013. If in 2004 the total re-export stood at $3.8 million, in 2005 it increased to $18 million, in 2008 - $133 million, in 2012 - $587 million, and in 2013 - to $704 million.
In 2019, exports exceeded the $700 million mark and broke the $732 million record, but its share of exports fell to 19.3 percent. As for a $456 million decline in the total exports in 2020, auto exports fell the most by $329 million.
In 2011-2020 the total exports amounted to $ 27.9 billion. In the reporting period, the total value of re-exports of passenger cars was $4.41 billion and made 15.8 percent of total exports. Copper ores re-export with $3.43 billion is in the second place and accounts for 12.3 percent of total exports.
In 10 years Georgia has exported ferroalloys worth $2.60 billion and wine worth $1.43 billion or 5.2 percent of total exports. In the fifth place with 1.23 billion is nut export as well as exports of medicines, mineral fertilizers and alcoholic spirits.
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