2020 Georgia global trade summary : global insight, global connections.

TRADE
2020 GEORGIA GLOBAL TRADE SUMMARY
GLOBAL INSIGHT GLOBAL CONNECTIONS
Georgia Department of Economic Development | 75 Fifth Street, NW, Suite 1200, Atlanta, GA 30308 - USA | Georgia.org/Trade

GEORGIA TRADE REMAINS RESILIENT IN 2020
Despite an extraordinary year marked by a pandemic and a decline in global trade flows, Georgia exports were resilient in 2020. Georgia exported $38.8 billion in goods to 215 unique export destinations. The state's export profile continues to reflect the diversity and depth of Georgia's industry base. As U.S. exports decreased by nearly 13% during 2020, Georgia merchandise exports declined just 6%, outperforming the U.S. export average as a whole. Georgia became the 10th largest exporting state in the nation in 2020, and recorded the lowest rate of export contraction among all top 10 states.
Georgia's top five export markets were Canada, Germany, China, Mexico, and Singapore. While exports to Canada contracted by 14%, several markets experienced significant growth in 2020 including Germany (48%), China (45%), and Hong Kong (41%). The rebound in Georgia exports to China reflects purchases made under the Phase 1 trade agreement signed by the U.S. and China in January of 2020, as well as the return of market access for U.S. poultry which created renewed export opportunities for Georgia producers and growers.
Georgia's network of international representatives in Brazil, Canada, Chile, China, Colombia, Europe, Israel, Japan, Korea, Mexico, Peru, and the United Kingdom support Georgia's global trade efforts on a daily basis. The state's long-term presence in these markets supports on-going trade development, with 62% of exports and 67% of imports involving markets where Georgia maintains full-time representation.
The state's standing as a world class logistics hub helped keep trade moving in the second half of 2020, with more than $123 billion in goods flowing through the Ports of Savannah and Brunswick. The Georgia Ports Authority reported modest growth in TEU traffic during the pandemic and loaded more containers than any other port in the country from January through May of 2020. The Port of Savannah remains a top U.S. port for agricultural products, which contributes to the balanced trade that is a hallmark of the Port's operations. Total trade reached $137.7 billion in 2020, spanning 221 countries and territories. This represents a slight contraction from record trade flows in 2019. Georgia's top five trading partners were China, Mexico, Germany, Canada, and Korea. Georgia imports topped more than $98.9 billion, declining just 3% from 2019. The top import markets were China, Mexico, Germany, Korea, and Japan.
INDUSTRY HIGHLIGHTS:
Manufactured goods make up approximately 90% of Georgia exports, with the remaining 10% representing Georgia's diverse agriculture industry. Georgia's export contraction during the spring recovered to prepandemic levels by the end of the calendar year. October and November, in particular, showed strong export growth. Georgia's manufacturing exports have grown by more than 30% since 2010. Agricultural exports have grown 40% over the same period.
Aerospace: Aerospace products remain Georgia's No. 1 export totaling $9.98 billion in 2020. The state's second-largest manufacturing industry generates more than $57.5 billion in economic impact. 2020 brought a surge in aerospace exports to Hong Kong, growing 141% in a single year. Germany remained the top customer for Georgia aerospace products, followed by Singapore, Hong Kong, Mexico, and Japan.
Automotive: Georgia's robust automotive sector experienced significant growth in 2020. Due to the state's seaports and central location amid Southeastern OEMs, Georgia is ideally situated to supply automotive customers across the world. Automotive industry exports increased 38% to $4.45 billion, driven by large increases to Germany (+1,165%) and China (+997%).
Agriculture: Agriculture is a major driver of Georgia's economy, contributing more than $74 billion in economic impact annually. Agricultural exports were resilient in 2020, declining just 1% over the previous year to $4.25 billion. Georgia remains a leading state for poultry, cotton, and peanuts as well as forest products. Many of these goods move seamlessly through Georgia's ports, sustaining a robust supply chain for both raw commodities and value-added agricultural products. Top markets for agriculture and related goods were China, Canada, Mexico, Vietnam, and the United Kingdom.
Georgia Department of Economic Development | 75 Fifth Street, NW, Suite 1200, Atlanta, GA 30308 - USA | Georgia.org/Trade

EXPORTS

Rank Trade Partner

World

1

Canada

2

Germany

3

China

4

Mexico

5

Singapore

6

Japan

7

United Kingdom

8

The Netherlands

9

Hong Kong

10 Belgium

Georgia's Top Export Markets

United States Dollars

2018

2019

$40,616,659,300 $41,252,421,666

$6,317,945,534

$5,991,595,334

$2,295,159,200 $2,776,363,715

$2,978,112,373

$2,364,683,727

$3,908,382,788 $3,517,817,065

$1,634,294,140

$2,056,199,203

$1,479,523,372

$1,487,428,900

$1,591,034,149

$1,539,922,770

$1,314,668,278

$1,332,480,472

$620,315,635

$630,306,174

$763,843,717

$788,865,043

2020
$38,784,137,534 $5,145,789,928 $4,106,842,559 $3,418,372,854 $3,093,398,365 $1,825,024,908 $1,240,939,161 $1,139,205,104 $1,026,271,783 $889,795,361 $841,412,123

% 20/19
-5.98 -14.12 47.92 44.56 -12.06 -11.24 -16.57 -26.02 -22.98 41.17 6.66

Billions

Georgia's Top Export Markets 2020

$7

$6

$5

$4

$3

$2

$1

$0

Canada

any Germ

China Mexico Singapore

2016 2017 2018

Japan United

KingTdheomNetherlandsHong

Kong

Belgium

2019 2020

Georgia Department of Economic Development | 75 Fifth Street, NW, Suite 1200, Atlanta, GA 30308 - USA | Georgia.org/Trade

Civilian Aircraft
$8.24B
Chemical Woodpulp
$1.07B
Medical Instruments
$857.8M

Top Exported Products
Motor Cars
$3.43B
Poultry
$1.06B
Cotton
$589.5M

Parts of Gas Turbines
$1.39B
Kraft Paper and Paperboard
$911.8M
Insecticides
$548.1M

Georgia vs U.S. Exports by Month

$5

$140

$4

$130

$120 $3
$110
$2 $100

$1

$90

$0

$80

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020 2020

Georgia

United States

Billions Billions

Data sources: Global Trade Atlas (by HS code, based on origin of movement); International Trade Administration; Global Agricultural Trade System Online; National Association of Manufacturers; University of Georgia Center for Agribusiness and Economic Development. Service sector export data not available at the state level.
Georgia Department of Economic Development | 75 Fifth Street, NW, Suite 1200, Atlanta, GA 30308 - USA | Georgia.org/Trade

Billions

GEORGIA'S EXPORT GROWTH BY STRATEGIC INDUSTRY (AGRICULTURE + MANUFACTURING)
Georgia Global Agricultural Exports $6 $5 $4 $3 $2 $1 $0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Georgia Global Manufacturing Exports $40 $35 $30 $25 $20 $15 $10
$5 $0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Georgia Department of Economic Development | 75 Fifth Street, NW, Suite 1200, Atlanta, GA 30308 - USA | Georgia.org/Trade

Billions

TOTAL TRADE

Total Trade Georgia's Total Trade Top Markets

Rank
1 2 3 4 5 6 7 8 9 10

Trade Partner World China Mexico Germany Canada Korea Japan Singapore United Kingdom Vietnam Taiwan

2016 $121.85B $21.08B $9.99B $15.35B $9.85B $7.27B $6.48B $1.85B $5.05B $1.57B $2.03B

2017 $128.47B $25.04B $10.37B $14.26B $10.47B $7.12B $6.30B $1.98B $5.24B $1.77B $2.21B

2018 $139.24B $26.72B $10.76B $12.12B $10.88B $6.99B $7.58B $5.18B $6.65B $1.89B $2.80B

2019 $143.32B $22.13B $11.29B $12.27B $11.20B $8.27B $8.09B $6.19B $7.03B $2.60B $2.99B

2020 $137.72B $23.61B $12.23B $11.46B $9.47B $7.90B $7.13B $6.23B $4.59B $3.75B $3.39B

% 20/19 -3.91% 6.66% 8.32% -6.60% -15.41% -4.39% -11.96% 0.52%
-34.62% 44.11% 13.40%

Billions

Georgia Total Trade Markets 2016 - 2020

$30

$25

$20

$15

$10

$5

$0 China

Mexico

any Germ

Canada

2016 2017

Korea

JapanSingUapnoitreed Kingdom Vietnam

2018 2019 2020

Taiwan

Georgia Department of Economic Development | 75 Fifth Street, NW, Suite 1200, Atlanta, GA 30308 - USA | Georgia.org/Trade

IMPORTS

IMPORTS Georgia's Top Import Markets

Rank
1 2 3 4 5 6 7 8 9 10

Trade Partner World China Mexico Germany Korea Japan Singapore Canada United Kingdom Vietnam Thailand

2016 $86.18B $18.50B $6.46B $13.77B $6.29B $5.07B $563.64M $4.00B $3.71B $1.21B $1.59B

2017 $91.25B $22.21B $6.75B $12.40B $6.25B $4.94B $572.29M $4.22B $3.96B $1.50B $1.87B

2018 $98.62B $23.74B $6.85B $9.83B $5.95B $6.10B $3.55B $4.56B $5.06B $1.51B $1.99B

2019

2020

$102.07B $98.93B

$19.77B $20.19B

$7.78B $9.14B

$9.49B $7.35B

$7.27B $7.15B

$6.61B $5.88B

$4.14B $4.40B

$5.20B $4.32B

$5.49B $3.46B

$2.18B $3.29B

$2.27B $2.92B

% 20/19 -3.07%
2.12% 17.53% -22.53% -1.67% -10.92% 6.36% -16.91% -37.03% 51.01% 28.52%

Georgia's Top Imported Products

Motor Vehicles
$9.03B

Food Preparation
$3.28B

Computers
$2.58B

Turbojets and Parts
$2.38B

Motor Vehicle Parts and Accessories
$2.10B

Immunological Products
$1.98B

Medicaments
$1.88B

Television Receivers
$1.84B

Furniture
$1.81B

Floor Coverings
$1.73B

Georgia Department of Economic Development | 75 Fifth Street, NW, Suite 1200, Atlanta, GA 30308 - USA | Georgia.org/Trade