How Much Did Georgia's Trade Turnover Increase With Russia?

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19.Oct .2022 13:00

How Much Did Georgia's Trade Turnover Increase With Russia?

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Author:Natia Taktakishvili

Georgia increased its trade turnover with Russia by 50%,- according to the preliminary data from the National Statistics Office of Georgia(Geostat).

As of the document, exports increased by 11% to USD 473 million in 9M2022, while imports - at a much higher rate. the growth made up 73% and reached USD 1.24 billion.

The increase in trade turnover with Russia was due to the increase in the imports of oil products. If in 9M2021, Georgia bought oil worth USD 96 million from Russia, in 2022 this figure increased to USD 431 million. The country purchased 435,000 tons of oil from Russia, making the country the number one oil importer.

Imports of other goods also increased, including imports of Russian flour, Russian coal (coke) and margarine.

As for exports, Georgia has increased wine exports to Russia, this year wine worth USD 109 million was exported from Georgia to Russia, which is 15% more compared to the last year.

The re-export of automobiles also increased sharply. If last year about 2 thousand cars worth 12.4 million were exported to Russia, in 9 months of 2022 the export exceeded 45.7 million, and the number of exported cars amounts to 3.2 thousand.

Russia imports