What relations does Georgia have with Belarus and what role does Belarus play in the economy of the country? - BM.GE focuses on these issues and based on official statistics presents the picture of investment, trade and tourism of the countries. The data is all the more interesting amid the Russia-Ukraine War.
Dynamics of Belarusian investments in Georgia?
According to the National Statistics Office of Georgia (Geostat), the volume of Belarusian investments in the country is small. For example, the last year 2021, Georgia received an investment of USD 1.3 million, which was 70.3% lower compared to the FDI of 2020. However, before the pandemic, investment volume did not even reach USD 1 million either.
In the first half of 2022, a total of USD 1.825 million came from Belarus. This not only exceeds the 2nd quarter of last year but the annual investments received from Belarus. The main volume of investments of USD 1.562 million entered the country in the second quarter.
Trade turnover - what do we sell or buy in Belarus?
In 8M2022, the trade turnover between Georgia and Belarus increased by 26.3% to USD 85.4 million. This is the highest indicator for the reporting period in the last ten years. In terms of trade turnover, imports slightly exceed exports. Accordingly, in January-August, USD 48.9 million went from Georgia to Belarus for the purchase of various goods. This is 44.4% more than the indicator of the same period last year.
TOP-10 imported goods:
1. Milk and cream, condensed milk and added sugar - USD 7.8 million, 2 513 tons;
2. Non-denatured ethyl alcohol - USD 6.7 million, 5 170 tons;
3. Tiles made of wood or other denatured materials - USD 3.3 million, 4 977 tons;
4. Tractors - USD 2.5 million;
5. Packaged Medicinal products - USD 2.4 million, 165 tons;
6. Insulated wires - USD 1.7 million, 275 tons;
7. Roasted or unroasted malt - USD 1.6 million, 2 939 tons;
8. Plywood glued, wood veneered panels and similar materials - USD 1.4 million, 1 299 tons;
9. Oil and oil products - USD 1.3 million, 672 tons;
10. Ready or canned products from meat, meat-products - USD 899 thousand, 368 tons;
As for exports, Georgia earned USD 36.5 million from the sale of goods in Belarus, which is 8.2% higher than last year's January-August figure. Exports to Belarus are at their highest level in the last 10 years.
TOP-10 export goods:
1. Non-denatured ethyl alcohol - USD 6 million, 1 516 tons;
2. Tobacco raw materials; Tobacco waste - USD 4.5 million, 1 371 tons;
3. Mineral and fresh waters - USD 3.9 million, 8 344 tons;
4. Natural grape wines - USD 3.3 million, 1,095 tons;
5. Light vehicles - USD 3.1 million;
6. Trucks - USD 2.8 million;
7. Flour and granules from meat, fish or crustaceans - USD 2.8 million, 1 488 tons;
8. Parts of tractors, light trucks and special purpose vehicles - USD 1.5 million, 111 tons;
9. Parts for internal combustion engines - USD 1.1 million, 30 tons;
10. Nuts and other nuts - USD 1.1 million, 204 tons.
How many tourist visits were made from Belarus in 8 months?
According to the official statistics of the National Tourism Administration, 89,214 visits were made from Belarus to Georgia during the reporting period. This is 178.7% higher than the data of 2021, 695.3% higher compared to the pandemic year of 2020, while tourism from Belarus has recovered by 93.8% compared to 2019.
