26/11/2024
09:05
Economic
Cinnamon imports to Georgia have seen a slight price increase. According to Geostat, in 2024, Georgia spent USD 133.9 thousand on 33.8 tons of cinnamon, compared to USD 131.6 thousand for 35.3 tons in the previous year, reflecting a 1.7% price increase. In terms of volume, cinnamon imports decreased by 4.5%.
Vietnam is the leading source of cinnamon, where Georgia purchases it at the lowest price. In contrast, the most expensive cinnamon came from the United Arab Emirates.
Top 5 Cinnamon Importing Countries:
- Vietnam – USD 5 thousand (29 tons)
- Ukraine – USD 18.2 thousand (1.3 tons)
- Bulgaria – USD 8 thousand (1.2 tons)
- United Arab Emirates – USD 3.2 thousand (0.6 tons)
- India – USD 7 thousand (0.5 tons)
Regarding exports, Georgia exported a small quantity of locally produced cinnamon and cinnamon tree flowers. Between January and October, 0.4 tons were exported, earning USD 4.8 thousand.
Russia was the top export market, receiving 0.2 tons of cinnamon worth USD 2.1 thousand. The USA imported 0.1 tons valued at USD 2.3 thousand, while smaller quantities were exported to Lithuania (0.04 tons, USD 0.2 thousand) and the United Kingdom (0.01 tons, USD 0.1 thousand).
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