Record-breaking Year for Georgia’s International Trade
Tuesday, February 20th, 2018
The Georgia Department of Economic Development released Georgia’s 2017 international trade numbers, which indicate another record breaking year. In 2017, total trade between Georgia and the world reached 225 unique countries and territories, exceeding $128.6 billion.
“In Georgia we place a high priority on our international efforts and assets, and year after year – the numbers show that our strategic efforts abroad yield incredible results,” said GDEcD Commissioner Pat Wilson. “The 2017 trade report solidifies the fact that our innovative approach to economic development, and the work of our International Trade team helps our state remain a leader in the global marketplace.”
Georgia maintains a presence in 11 strategic global markets: Brazil, Canada, Chile, China, Colombia, Europe, Israel, Japan, Korea, Mexico and the United Kingdom and Ireland, which plays a vital role in global trade. Seventy-eight percent of total trade involved markets where Georgia has representation. In the past 10 years, trade has grown by 53 percent in Georgia, which now ranks eighth in the U.S. for total trade.
The value of Georgia exports reached $37.2 billion, a four percent increase over 2016. India moved into the top 10 export markets for the first time with a 167 percent increase in exports, totaling more than $1 billion. Other key export markets with significant growth in 2017 include The Netherlands, Germany, China and Singapore with a 36 percent, 17 percent, nine percent and eight percent increase, respectively.
Aerospace remained the leading export industry for Georgia in 2017 with exports totaling more than $8.3 billion, a four percent single year increase largely due to powered aircraft exports to India. Poultry exports from Georgia grew by more than 22 percent in 2017 and totaled $1.05 billion. Exports of medical devices and pharmaceuticals exceeded $1.5 billion worldwide, with Belgium remaining the top export market in the industry for the seventh year in a row.
GDEcD’s International Trade Division works to bolster Georgia exports and brand the state as a competitive source of quality products and services. The team provides Georgia businesses with the global insight and global connections they need to successfully diversify their international customer base.
“The 2017 trade numbers underscore the fact that Georgia companies continue to succeed in global markets, and I applaud the thousands of businesses across Georgia that contributed to our growth in exports last year,” said GDEcD Deputy Commissioner of International Trade Mary Waters. “Our trade team will continue to support exporters across the state, to ensure that all companies have the resources they need to successfully compete in the global economy.”