Exports of ferrous metals grew robustly throughout 2010 as demand for Georgian iron and steel recovered. This followed a steep slump in demand for these products in 2009 as buyers in the US substantially reduced their purchases from Georgia and elsewhere (September 2010, Foreign trade and payments). Ferrous metals were Georgia's main export in 2010, comprising 16.7% of total exports, up from 11.5% in 2009, with growth of over 100%. Exports of cars increased sharply in 2010, by 190%, to total US$227.3m. However, this figure disguises the fact that Georgia does not produce its own cars, but instead buys them and resells them to other countries, most notably Azerbaijan. Electricity exports rose by 82% and comprised 2.3% of total exports as Georgia increased its electricity exports to Turkey and Russia (December 2010, Foreign trade and payments). Exports of gold fell by around 26%, owing to falling demand for Georgian gold in Canada, which is the only buyer of this commodity. Exports of nuts also fell significantly in 2010.

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