is a small country in South Caucasus bordering the Black Sea and sharing land
boundaries with Russia, Turkey, Armenia, and Azerbaijan. A significant trade
deficit is driven by the import of fossil fuels and high value-added goods.
Exports, which are destined mainly for Italy and select CIS countries, are
comprised of low value added commodities including agricultural products,
metals, and precious stones. As such, Georgia’s economy is highly vulnerable to
volatile price and market fluctuations. A member of the WTO, Georgia has
expanded its market access through participation in a number of PTAs. Enhanced
integration with the EU meanwhile is being achieved through an Association
Agreement (which was initialed in November 2013) that includes a Deep and
Comprehensive Free Trade Area. Despite a move towards higher value-added
production, Georgian trade is still hampered by low productivity, limited
financial access, and underdeveloped trade support institutional infrastructure.
Notes: Top 20 products listed in decreasing order of their export potential to the world. Development indicators are relative to the country’s current situation, green indicating performance above its trade-weighted median and red otherwise. A blank cell indicates that data are not available. A blank cell in export potential means that the product was not consistently demanded over five years by any country in the respective region. Exports (US$ thousand) correspond to average exports to the world over the period 2009-2013.