Georgia-Azerbaijan trade relations have been growing y-o-y since 2020. During 2023, the trade turnover of the countries increased by 15.4% to USD 1 billion 515 million. According to official statistics, the neighboring country ranks 5th with a 7%-share among the largest trade partners. It should be noted that the trade deficit between Georgia and Azerbaijan is positive and the increase in trade is mainly due to exports.
In 2023, Azerbaijan was the number one exporting destination for Georgia and accounted for 14.2% of total exports. In total, goods worth USD 862 million 070 thousand were exported to Azerbaijan last year, which was 28.2% more than the exports of 2022. On the other hand, such growth was related to the re-export of goods. Re-export accounted for 82.3% of the total exports. Therefore, it can be said that the trade and export increased largely not due to the exports of local products, but due to the re-export of goods brought to Georgia, in which the import-re-export of moto cars made a big contribution.
According to the statistics, moto cars account for 50.7% of Azerbaijan's exports. In 2023, the exports of cars from Georgia to Azerbaijan increased by 41.7%.
TOP-10 Products That Azerbaijan exported From Georgia :
1. Moto Cars - USD 437.2 million, 22,393 units;
2. Other industrial tobacco and industrial tobacco substitutes - USD 35.4 million, 2 336 tons;
3. Packaged medicinal products - USD26 million, 670 tons;
4. Trucks - USD 25.9 million, 3,042 tons;
5. Containers made of paper, cardboard, cellulose fiber cotton or canvas - USD 25.6 million, 1 246 tons;
6. Copton and other solid waste - USD 25.3 million, 37,249 tons;
7. Cattle - USD 19.2 million, 5 169 tons;
8. Oil and oil products - USD 15.8 million, 12,425 tons;
9. Live sheep and goats - USD 14.8 million, 6 518 tons;
10. Waters, including mineral and added sugar - USD13.5 million, 19,187 tons.
TOP-10 Products That Georgia Exported From Azerbaijan
1. Petroleum gases and other gaseous hydrocarbons - USD 313.4 million, 1,768,395 tons;
2. Oil and oil products - USD 95.4 million, 112,388 tons;
3. Cement - USD 57 million, 871,614 tons;
4. Carbon steel rods - USD 32.2 million, 51,337 tons;
5. Motor Cars - USD 20.9 million, 217 pieces;
6. Cigars, cigarillos and cigarettes made of tobacco or its substitutes - USD 11.5 million, 860 tons'
7. Products made of gypsum or mixtures based on it - $10 million, 56,249 tons;
8. Plaster; anhydrite - USD 8.9 million, 263,189 tons;
9. Milk and cream, non-condensed and without added sugar - USD 4.8 million, 6 318 tons;
10. Insulated wires, cables - USD 4.3 million, 1 233 tons.
