Georgia Touts Another Year as a Leader in International Trade
Wednesday, February 22nd, 2017
The Georgia Department of Economic Development released Georgia’s 2016 trade numbers, which reinforce the states position as a front-runner in the global economy and as a leader in international trade. In 2016, total trade between Georgia and the world exceeded $121.7 billion and exports exceeded $35.5 billion. The state also maintained its national rankings as the 11th-largest exporting state and seventh largest importing state.
“These trade numbers are a testament to our ability to maintain our position at the forefront of the global marketplace, and represent the significant investment and job opportunities that come with international trade,” said GDEcD Commissioner Pat Wilson. “Our presence around the world helps us remain competitive and keeps our economy thriving. Companies in 95 percent of Georgia counties are actively participating in international trade, and I am proud of the work our International Trade team has done to support their efforts.”
Georgia’s international presence in 11 strategic markets - Brazil, Canada, Chile, China, Colombia, Europe, Israel, Japan, Korea, Mexico and the United Kingdom and Ireland - plays an important role in global trade. The state maintained its rank of ninth in the U.S. for total trade, which has grown by 45 percent since 2008.
Georgia imports totaled $86.2 billion last year. China remained Georgia’s top importer in 2016 at 21.47 percent, followed by Germany at 15.98 percent and Mexico at 7.5 percent.
More than 14,500 businesses in Georgia are involved in highly diversified exporting. In 2016, Georgia exported to 214 countries and territories and 67 percent of exports went to where Georgia has international representation. Canada remains Georgia’s top exporting partner, accounting for 16.5 percent of total exports followed by Mexico at 10.07 percent, and China at 7.19 percent.
“Exporting is a vital component to Georgia’s economy, and small businesses play a huge role,” said Mary Waters, Deputy Commissioner for International Trade at GDEcD. “The trade division continues to focus on expanding small business exports and increasing Georgia’s export value. We look forward to the continued success of Georgia’s trade efforts.”
Georgia grown peanuts saw an export increase of 81 percent over 2015 due to significant growth from China, Vietnam, Colombia and Mexico. Exports of medical devices and equipment totaled $1.13 billion, a four percent increase over 2015.