Nicknamed the “Peach State” or “Empire State of the South” and situated in America’s Southeastern region, Georgia shipped US$40.6 billion worth of goods around the globe in 2018. That dollar amount reflects an 8.9% uptick from 2017 to 2018 and a 5.1% increase since 2015.
Georgia is America’s eleventh-biggest exporter by state behind front-runners including Texas, California, New York and Washington states. The value of Georgia’s exports equals 2.4% of United States’ overall exported products for 2018.
Based on statistics from the US Department of Commerce’s Bureau of Economic Analysis (BEA), Georgia’s exported products represent 6.7% of the state’s total economic output or real Gross Domestic Product in 2018 ($601.5 billion in current dollars based on BEA statistics).
Given Georgia’s population of 10.519 million people, its total $40.6 billion in 2018 exports translates to roughly $3,900 for every resident in the Peach State.
Georgia’s unemployment rate was 3.5% at September 2019 down from 4.4% as of March 2018, per YCharts.
Georgia’s Top 10 Exports
The following export products represent the highest dollar value in Georgia global shipments during 2018. Also shown is the percentage share each export category represents in terms of overall exports from Georgia.
Figures are shown at the more granular six-digit Harmonized Tariff System code level, for more precise product identification.
- Aircraft including engines, parts: US$7.3 billion (18% of Georgia’s total exports)
- Chemical woodpulp (coniferous): $1.2 billion (3%)
- Gas turbine parts: $1.1 billion (2.8%)
- Kraftliner paper (uncoated/unbleached): $1.13 billion (2.7%)
- Mid-sized automobiles (piston engine): $1 billion (2.5%)
- Frozen poultry (cuts, offal): $857 million (2.1%)
- Natural gas (liquid): $668 million (1.6%)
- Modems, similar reception/transmission devices: $613 million (1.5%)
- Computer parts and accessories: $524 million (1.3%)
- Cotton (uncarded, uncombed): $493 million (1.2%)
Georgia’s top 10 exports represent 36.7% of the overall value of the state’s global shipments.
Computer parts and accessories was the fastest-growing among the top 10 export categories, thanks to its 164.6% increase from 2017 to 2018. In second place for improving export sales was uncoated and unbleached Kraftliner paper which rose 44%. Liquid natural gas shipped from Georgia posted the third-fastest gain via a 28.5% gain, ahead of the 24.8% rise for aircraft including engines and other parts.
Two among Georgia’s top 10 export products decline year over year, namely mid-sized automobiles with piston engines and gas turbine parts which fell -15.4% each.
More Key Facts
Overall, Georgia incurred a -$58.2 billion deficit exporting and importing products during 2018. That dollar amount reflects a 7.5% year-over-year increase from -$54.2 billion in red ink in 2017.
Another way of saying surplus or deficit is positive or negative net exports. In a nutshell, the term “net exports” quantifies the amount by which foreign spending on a state’s goods or services exceeds or lags that same state’s spending on foreign goods or services.
Below are Georgia’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2018.
- Mid-sized automobiles (piston engine): $8.5 billion (8.6% of Georgia’s total imports)
- Computer parts and accessories: $2.8 billion (2.8%)
- Miscellaneous food preparations: $2.7 billion (2.7%)
- Large automobiles (piston engine): $1.7 billion (1.7%)
- Insulin: $1.6 billion (1.6%)
- Large aircraft: $1.53 billion (1.6%)
- Small portable digital computers: $1.47 billion (1.5%)
- Floor/wall covers, vinyl chloride polymers: $1.45 billion (1.5%)
- Modems, similar reception/transmission devices: $1.4 billion (1.4%)
- Copper cathodes (unwrought): $1 billion (1%)
Georgia has highly negative net exports in the international trade of automobiles. In turn, these cashflows indicate Georgia’s strong competitive disadvantages under the vehicles-related categories showing the strong impact of foreign-made automotive goods on the Georgian global balance sheet.
The following list shows the top 10 customers that purchase 57.6% worth of the total value of products exported from the state of Georgia during 2018.
- Canada $6.2 billion (15.4% of Georgia’s total exports)
- Mexico $3.9 billion (9.6%)
- China $3 billion (7.4%)
- Germany $2.3 billion (5.7%)
- Singapore $1.63 billion (4%)
- United Kingdom $1.59 billion (3.9%)
- Japan $1.48 billion (3.7%)
- Netherlands $1.32 billion (3.2%)
- South Korea $1.04 billion (2.6%)
- Brazil $842 million (2.1%)
Georgia’s top trade partners in North America, Canada and Mexico, account for one-quarter (25%) of the overall value of exported goods from the Peach State. This compares with the 17.6% share for Georgian products exported to top Asian import countries (China, Singapore, Japan, South Korea).
Georgia’s Export Companies
Thirty corporations based in the state of Georgia rank among Fortune 1000 Companies, a list that showcases America’s largest businesses. Selected examples are shown below.
- Acuity Brands (lighting, specialty chemicals)
- Carter’s (children’s clothing)
- Flowers Foods (bread, other packaged bakery foods)
- Axiall Corp (chlorovinyls, aromatics)
- Graphic Packaging Holding Co (commercial products packaging)
- NCR Corp (electronics, computer hardware, software)
- AGCO Corp (agricultural equipment)
- Mohawk Industries (flooring products)
- HD Supply Holdings (industrial goods)
- Genuine Parts Company (replacement parts, electrical materials)
Shown within brackets for each company is a summary of the international trade-related products which each business sells.
Georgia’s capital is Atlanta, a city nicknamed “The A” or “Hotlanta”.
See also America’s Top 20 Export States, United States Top 10 Exports and Top United States Trade Balances
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