Nicknamed the “Peach State” or “Empire State of the South” and situated in America’s Southeastern region, Georgia shipped US$41.2 billion worth of goods around the globe in 2019. That dollar amount reflects a 1.5% uptick from 2018 to 2019 and a 15.6% increase since 2016.
Georgia ranks among America’s 15 biggest exporters by state behind front-runners including Texas, California, New York and Washington states. The value of Georgia’s exports equals 2.5% of United States’ overall exported products for 2019.
Based on statistics from the US Department of Commerce’s Bureau of Economic Analysis (BEA), Georgia’s exported products represent 7% of the state’s total economic output or real Gross Domestic Product ($592.2 billion in current dollars based on BEA statistics for 2018).
Given Georgia’s population of 10.617 million people, its total $41.2 billion in 2019 exports translates to roughly $3,900 for every resident in the Peach State.
Georgia’s unemployment rate was 3.1% at February 2020 down from 4.4% as of March 2019, per YCharts.
Georgia’s Top 10 Exports
The following export products represent the highest dollar value in Georgia global shipments during 2019. 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$8.8 billion (21.3% of Georgia’s total exports)
- Gas turbine parts: $1.4 billion (3.4%)
- Chemical woodpulp (coniferous): $1.2 billion (2.9%)
- Mid-sized automobiles (piston engine): $975 million (2.4%)
- Kraftliner paper (uncoated/unbleached): $849 million (2.1%)
- Frozen poultry (cuts, offal): $805 million (2%)
- Natural gas (liquid): $709 million (1.7%)
- Cotton (uncarded, uncombed): $528 million (1.3%)
- Large automobiles (piston engine): $482 million (1.2%)
- Modems, similar reception/transmission devices: $479 million (1.2%)
Georgia’s top 10 exports represent 39.5% of the overall value of the state’s global shipments.
Gas turbine parts represent the fastest grower among the top 10 export categories, thanks to its 24.1% increase from 2018 to 2019. In second place for improving export sales was aircraft including engines and other parts due to a 19.4% rise. Large automobiles powered by piston engine shipped from Georgia posted the third-fastest gain via a 12.1% gain, ahead of the 6.9% acceleration for unprocessed cotton.
Leading the decliners year over year were uncoated and unbleached Kraftliner paper (down -23.9%) and modems including similar reception and transmission devices (down -21.9%).
More Key Facts
Overall, Georgia incurred a -$60.9 billion deficit exporting and importing products during 2019. That dollar amount reflects a 4.8% year-over-year increase from -$58.1 billion in red ink in 2018.
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 2019.
- Mid-sized automobiles (piston engine): $8.3 billion (8.1% of Georgia’s total imports)
- Miscellaneous food preparations: $3 billion (3%)
- Large aircraft: $2.4 billion (2.4%)
- Large automobiles (piston engine): $2.1 billion (2%)
- Turbo-jets: $1.6 billion (1.6%)
- Floor/wall covers, vinyl chloride polymers: $1.56 billion (1.5%)
- Insulin: $1.4 billion (1.4%)
- Mechanical shovels, excavators, loaders: $1.06 billion (1%)
- Copper cathodes (unwrought): $976 million (1%)
- Modems, similar reception/transmission devices: $974 million (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 55.6% worth of the total value of products exported from the state of Georgia during 2019.
- Canada $5.9 billion (14.4% of Georgia’s total exports)
- Mexico $3.5 billion (8.5%)
- Germany $2.8 billion (6.7%)
- China $2.4 billion (5.7%)
- Singapore $2.1 billion (5%)
- United Kingdom $1.54 billion (3.7%)
- Japan $1.49 billion (3.6%)
- Netherlands $1.3 billion (3.2%)
- South Korea $996 million (2.4%)
- United Arab Emirates $972 million (2.4%)
Georgia’s top trade partners in North America, Canada and Mexico, account for almost one quarter (22.9%) of the overall value of exported goods from the Peach State. This compares with the 19.1% share for Georgian products exported to top Asian import countries (China, Singapore, Japan, South Korea, United Arab Emirates).
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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