Gold exports from Georgia reached a 13-year high

Gold exports from Georgia increased by 20% in January-November 2024 compared to the same period in 2023 and by 15% compared to 2012, BPN reported, citing the National Statistics Service Sakstat.

Gold exports from Georgia have reached a 13-year high. In the first 11 months of 2024, Georgia exported 2.4 tons of gold worth $96.2 million. This figure is 15% higher than in 2012.

In particular, according to statistics, in January-November 2023, gold worth $80.4 million (2.48 tons) was exported from Georgia, while in the same period of 2012 the country received $83.5 million (3.5 tons) from gold exports.

As in previous years, in January-November 2024, unprocessed or semi-processed or powdered gold was exported mainly to Switzerland (2.25 tons). In addition, small quantities were exported to Turkey (0.13 tons) and the UAE (0.02 tons).

Following the growth of gold prices in the world, the export value of Georgian gold also increased - by 23.7%. In 2023, one ton of Georgian gold cost an average of $32.4 million, while the average export price for January-November 2024 rose to $40.1 million.

It should be noted that, according to the data for January-November 2024, Georgian gold with a share of 3.7% entered the list of the 10 largest export commodities and is in the eighth place.

Reprinted from https://sputnik-georgia.ru/