That dollar amount results from a 28.9% increase from $38.6 billion four years earlier in 2020.
Year over year, the overall value for State of Georgian exports rose 5.1% compared to $47.4 billion during 2022.
Georgia ranks twelfth among America’s biggest exporters by state behind front-runners including Texas, California, Louisiana, New York state and Illinois.
The value of Georgia’s exports equals 2.5% of the United States’ overall exported products for 2023, up from 2.3% one year earlier.
Based on statistics from IBIS World, Georgia’s exported products represent 8.3% of the state’s total economic output or Gross Domestic Product ($600.3 billion).
Given Georgia’s population of 11.1 million people, its total $49.8 billion in 2023 exports translates to roughly $4,500 for every resident in the Peach State. That dollar metric exceeds the average $4,300 per capita for 2022.
Georgia’s unemployment rate was 3.1% at the end of March 2024, down from 3.2% one year earlier per YCharts.
Georgia’s Top 10 Exports
The following export products represent the highest dollar value in Georgia global shipments during 2023. 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.
- Civilian aircraft, engines and parts: US$8.2 billion (16.6% of Georgia’s total exports)
- Mid-sized automobiles (piston engine): $1.63 billion (3.3%)
- Frozen poultry (cuts, offal): $1.33 billion (2.7%)
- Chemical woodpulp (coniferous): $1.32 billion (2.7%)
- Cotton (uncarded, uncombed): $1.14 billion (2.3%)
- High-thrust turbo-jets: $1 billion (2%)
- Miscellaneous digital processing units: $893.4 million (1.8%)
- Gas turbine parts: $880.9 million (1.8%)
- Modems, similar reception/transmission devices: $841.2 million (1.7%)
- Kraftliner paper (uncoated/unbleached): $648 million (1.3%)
841112 Turbojets Of A Thrust Exceeding 25 Kn 1,009,661,689 2.0% 115.5%
847150 Digital Processing Units, N.E.S.O.I. 893,409,183 1.8% 77.1%
851762 Mach For Recp/convr/trans/regn Of Voice/image/data 841,150,005 1.7% 28.0%
841199 Gas Turbine Parts Nesoi 880,880,281 1.8% 16.0%
880000 Civilian Aircraft, Engines, And Parts 8,237,793,299 16.6% 10.0%
020714 Chicken Cuts And Edible Offal (inc Livers), Frozen 1,338,784,657 2.7% 0.7%
520100 Cotton, Not Carded Or Combed 1,139,922,293 2.3% -10.2%
870323 Pass Veh Spk-ig Int Com Rcpr P Eng >1500 Nov 3m cc 1,631,787,296 3.3% -14.9%
470321 Chemical Woodpulp, Soda Etc. N Dis S Bl & Bl Conif 1,319,733,451 2.7% -22.4%
480411 Kraftliner, Uncoated Unbleached In Rolls Or Sheets 647,971,023 1.3% -27.3%
Georgia’s top 10 exports represent 36% of the overall value of the state’s global shipments.
Turbo-jets with a thrust exceeding 25 knots was the fastest grower among Georgia State’s top 10 export categories, thanks to its 115.5% acceleration from 2022 to 2023.
In second place were Georgian exports of miscellaneous digital processing units via a 77.1% advance, ahead of Georgia State’s exports of modems plus similar reception or transmission devices (up 28%).
The severest decliners among Georgia’s major export categories were uncoated and unbleached Kraftliner paper (down -27.3% from 2022), coniferous chemical woodpulp (down -22.4%), and mid-sized automobiles powered by piston engine (down -14.9%).
More Key Facts about Georgia State’s International Trade
Georgia incurred an overall -US$86.8 billion deficit exporting and importing products during 2023. That dollar amount results from a -14.2% reduction compared to the -$101.2 billion in red ink in 2022.
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 2023.
- Mid-sized automobiles (piston engine): US$7.3 billion (5.3% of Georgia’s total imports)
- Immunological products in measured doses: $6.9 billion (5.1%)
- Modems, similar reception/transmission devices: $3.45 billion (2.5%)
- Large automobiles (piston engine): $2.9 billion (2.1%)
- Miscellaneous food preparations: $2.25 billion (1.7%)
- High-thrust turbo-jets: $2.2 billion (1.6%)
- Mechanical shovels, excavators: $2.15 billion (1.6%)
- Refined copper cathodes: $1.76 billion (1.3%)
- Self-propelled works trucks, forklifts: $1.72 billion (1.3%)
- Automobiles powered by electric motor only: $1.62 billion (1.2%)
Georgia State incurred negative net exports in the international trade of automobiles. In turn, these cashflows indicate Georgia’s competitive disadvantages under the vehicles-related categories showing the strong impact of foreign-made automotive goods on the Georgian global balance sheet.
Georgia State’s Major Trading Partners
The following list shows the top 10 customers that purchased 57.8% worth of the total value of products exported from Georgia during 2023.
- Canada: US$7.65 billion (15.4% of Georgia’s total exports)
- Mexico: $4.9 billion (9.8%)
- mainland China: $3.9 billion (7.9%)
- Germany: $2.65 billion (5.3%)
- Singapore: $2.2 billion (4.5%)
- Netherlands: $1.8 billion (3.6%)
- Belgium: $1.544 billion (3.1%)
- Japan: $1.54 billion (3.1%)
- United Arab Emirates: $1.34 billion (2.7%)
- Poland: $1.19 billion (2.4%)
Georgia’s top trade partners in North America–Canada and Mexico–accounted for one quarter (25.2%) of the overall value of exported goods from the Peach State.
The North American percentage compares with the 18.1% share for Georgian products exported to top Asian importing countries (mainland China, Singapore, Japan plus the United Arab Emirates).
Another 12.6% was sent to leading importers of Georgian products located in Europe (Germany, Netherlands, Belgium and Poland).
State of 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)
- AGCO Corp (agricultural equipment)
- Axiall Corp (chlorovinyls, aromatics)
- Carter’s (children’s clothing)
- Flowers Foods (bread, other packaged bakery foods)
- Genuine Parts Company (replacement parts, electrical materials)
- Graphic Packaging Holding Co (commercial products packaging)
- HD Supply Holdings (industrial goods)
- Mohawk Industries (flooring products)
- NCR Corp (electronics, computer hardware, software)
Shown within brackets for each company is a summary of the international trade-related products which each business sells.
Georgia’s state capital is Atlanta, a city nicknamed “The A” or “Hotlanta”.
See also Ohio’s Top 10 Exports, Alabama’s Top 10 Exports, Florida’s Top 10 Exports, Louisiana’s Top 10 Exports and Tennessee’s Top 10 Exports
Research Sources:
FlagPictures.org, Flags of US States. Accessed on April 23, 2024
Forbes, Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 23, 2024
GeoLounge, Fortune 1000 Companies List, Fortune 1000 by State and Place. Accessed on April 23, 2024
IBIS World, Georgia Economic Overview (GDP, population). Accessed on April 23, 2024
International Trade Centre, Trade Map. Accessed on April 23, 2024
Investopedia, Net Exports Definition. Accessed on April 23, 2024
United States Census Bureau, QuickFacts: Georgia. Accessed on April 23, 2024
USA Trade Online, Official Source of Trade Statistics. Accessed on April 23, 2024
Wikipedia, Georgia (U.S. state). Accessed on April 23, 2024
Wikipedia, List of Georgia (U.S. state) companies. Accessed on April 23, 2024
Wikipedia, List of U.S. states and territories by GDP. Accessed on April 23, 2024
YCharts, Regional and State Employment and Unemployment Report. Accessed on April 23, 2024