29.Jun .2022 11:00

Georgia Increased Fuel Imports From Russia By 70% In May

Georgia Increased Fuel Imports From Russia By 70% In May
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Georgia purchased 494,538 thousand tons of fuel worth USD 461 million in the first 5 months of 2022. In total, import value increased by 80%, while the volume - by 7%.

According to Geostat, the Russian Federation ranks the first by petroleum product imports, from which Georgia has purchased 138,663 tons of fuel worth USD 124.3 million in January-May. Compared to the previous year, the value of imports increased by 148%, while the volume - by 45%.

In May, the Georgian Competition Agency published a report stating that Russian fuel was cheaper than European fuel. Presumably because of the affordable price, the business has increased imports from Russia and Turkmenistan. In May, Russian oil imports increased by 70% compared to April, reaching USD 50 million.

The Volume of Imported Fuel by Countries:

1. Russia - 138,663 thousand tons, 28% of imports;
2. Romania - 103,889 thousand tons, 21% of imports;
3. Turkmenistan - 85,389 thousand tons, 16.5% of imports;
4. Bulgaria - 76,409 thousand tons, 15.5% of imports;
5. Azerbaijan - 56,507 thousand tons, 9.7% of imports.