Georgia-EU Trade Relations: An Overview of the Top Exporting and Importing Companies
In recent years, Georgia has been strengthening its trade relations with the European Union (EU), which has become an important trading partner for the country. In the first two months of 2023, the trade turnover between Georgia and EU member states increased by 7.6%, reaching $590.7 million, with the EU accounting for 20.3% of Georgia's trade turnover.
However, the share of exports to the EU has decreased, accounting for only 12.6% of Georgia's total exports. Copper ores and concentrates, nuts and walnuts, computers and blocks, alcoholic beverages, and wines are the top five exports to the EU, with only Bulgaria and Spain making it into the top ten exporting countries for Georgia.
So, who are the companies responsible for this trade? JSC RMG Copper, Caucasian Metals Terminal LLC, RMG Gold LLC, IT-Distribution LLC, Atlantic Georgia LLC, International Trade Co. Ltd., LLC K and Georgian Spirit, Silk Trade LLC, Georgian Holding LLC, and Georgian Products Renaissance LLC are the top 10 exporting companies to the EU, according to data from Geostat.
On the other hand, imports from the EU increased by 21.8% compared to the same period last year, with light vehicles, oil and oil products, packaged medicinal products, automobiles designed to transport 10 people or more, and telephone devices for cellular networks being the top five imports. JSC Gefa, JSC Coca-Cola Bottlers Georgia, Aversi-Pharma LLC, LLC AKA, Ltd. Alta, Tegeta Truck and Bass LLC, Tegeta Premium Vehicles LLC, PSP Pharma LLC, Rompetrol Georgia LLC, and G-T Motor Ltd. are the top 10 importing companies from the EU, according to Geostat.
Despite the challenges, Georgia's trade relations with the EU are thriving, and the country is making strides towards diversifying its trade partnerships. By focusing on improving its competitiveness and taking advantage of its strategic location and resources, Georgia is well-positioned to continue its upward trajectory in international trade.