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Trading in Georgia
Updated on Thursday 14th December 2017 Rate this article
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The Georgian Government enacted regulations and taxes regimes attractive for foreign investors, as the Georgian market has the potential of economic growth due to its perfect location, situated at the shortest access way from Europe to Asia. Georgia is actively seeking to enhance European business and social values and, in 2014, it had signed the Deep and Comprehensive Fee Trade Agreement, that had opened that way to Euro-Atlantic integration. If you are interested in opening a company in Georgia, our company formation agents can offer you important details on the characteristics of the economy. Trading sectors in Georgia
The most representative trading partners for Georgia are the European Union and Turkey. Import and export activities have improved in the last years, with an increase of 5% in foreign trade in 2014, compared with the previous year. The volume of imports increased in 2014 by 7%, accounting a total value of $ 5.7 billion. If you want to register a company in Georgia in the field of trading, you should know that the most profitable import - export industries (at the level of 2013) were the following:
1. In terms of exports, which accounted for a value of $ 3.45 billion, the top industries were:
• cars;
• crude petroleum;
• ferroalloys;
• copper ore;
• various types of nuts.
2. The import market was comprised of:
• refined petroleum;
• cars;
• petroleum gas;
• medicaments;
• wheat.
The total value of the imports raised to the value of $ 8.4 billion.
Trading partners
In terms of exports, the main trading partners of Georgia are: Azerbaijan, Bulgaria, Armenia, Ukraine and Russia. The top import partners are: Turkey, Russia, Azerbaijan, China and Ukraine.
The Georgian market exports 120 products with a revealed comparative advantage, meaning that the exported products and goods have exceed the share the country typically has for those specific products.
If you are interested in company formation in the trading field, please contact our company formation agents in Georgia, who can offer you an in-depth presentation on the economic environment and business opportunities available here.
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