Gov. Nathan Deal today announced that the state experienced a record increase in both exports and imports for the fifth consecutive year, with a 4.9 percent increase in exports and 11.5 percent increase in imports over last fiscal year's numbers.
“With our strong and diverse international presence, Georgia is able to successfully support companies in reaching new markets,” said Deal. “Another record-breaking year in international trade indicates that businesses in our state are growing year-over-year. When combined with the ever-increasing value of Georgia’s exports and imports, I am confident that we will continue the trend of more record-breaking international trade in the future.”
According to the Census Bureau, the state maintained its ranking in exports as the 11th-largest exporting state in 2014. Georgia also moved from the eighth largest importing state to the country’s seventh largest importing state. More than 90 percent of Georgia’s total trade was with Asia, Europe and North America. Georgia has international representation in eight of the state’s top 10 export markets.
“Trade is a vital component of economic development in Georgia,” said Georgia Department of Economic Development Commissioner Chris Carr. “These numbers not only reveal that Georgia companies are staying competitive in the global marketplace, but they also underscore how our outstanding international trade team works to build successful relationships with companies, communities and international partners, which in turn helps create jobs and investment opportunities in Georgia.”
Georgia’s top 10 export countries accounted for 55 percent of its total exports. Canada, China, Mexico and the United Kingdom rank as Georgia’s top four export destinations. Among the top 10 export destinations, the largest percentage increase in exports was in South Korea, Germany, Brazil and Australia.
Georgia led the nation in the export of chemical woodpulp, poultry, kraft paper and paperboard, chemical products including insecticides, carpets and other textile floor coverings, and Kaolin. Georgia’s leading export industries ranked by dollar value were aircraft/spacecraft, nonelectric machinery, nonrailway vehicles, electrical machinery and paper/paperboard. Since the announcement of the National Export Initiative in 2010, Georgia’s exports have increased 36.2 percent.
The state’s imports outpaced exports by approximately $44.4 billion. Georgia ranked seventh among U.S. states and first in the Southeast in dollar value of imports. Georgia’s top five importing countries included China, Germany, South Korea, Mexico and Canada. Among Georgia’s 10 largest importer nations, the largest increase was from Germany, followed by Canada and Italy.
To read import/export highlights and access the full report, click here.
About the International Trade division
The Georgia Department of Economic Development’s International Trade division, with the support of international representatives in 11 key global markets, provides free export services and assistance to Georgia companies. Georgia companies who have entered into a new international market in 2014 will be recognized with a GLOBE (Georgia Launching Opportunities By Exporting) Award on March 2 at the Go Global reception, an annual networking event for the state’s international representatives. For more information or Go Global reception details, visit Georgia.org/Trade.