Georgia purchased goods worth USD 705 million from Russia in the first half of 2022, which is 51% more compared to the previous year. As a result of this growth, Russia became the second largest import market for Georgia after Turkey. In 2021, this position was occupied by China, however, as a result of a sharp increase in imports from Russia, this position was taken by Russia.
As for exports, USD 256 million worth of goods were exported to Russia this year, which was 3% less compared to the last year.
According to Geostat, the export of mineral waters and wines has decreased. In the top five trade goods, growth is recorded only in the direction of vehicles (USD 13.9 million, an increase of 71%) and ferroalloys.
Aleksi Noniadze, the founder of the Georgian Association of Auto Importers explains that the Russian market has never been stable for the Georgian auto industry.
"Compared to the previous year, the export of passenger cars in Russia is increasing, although not in large quantities. If we look at the dynamics, the Russian market has never been a stable market, therefore, our business has never made relay on Russia, we have the main focus on Azerbaijan, Armenia, Central Asian countries, including Kyrgyzstan, Kazakhstan, etc. A large part also accounted for Ukraine. The war partially replaced the Russian market, but not completely. There is a certain increase, but it is monetary, we do not have a noticeable increase in quantitative units. The Russian market has never been stable for the Georgian auto industry", - he explained.
In the first half of 2022, 10% of imports from Georgia account for vehicles. According to Geostat, the largest import commodity group in January-June 2022 was vehicles, the import of which amounted to USD 606.8 million, which took 10.3% of all imports.
In January-June 2022, the share of the ten largest import partner countries in the total import of Georgia amounted to 66.4%. The top three include Turkey (USD 1,039.9 million), Russia (USD 705.7 million) and China (USD 522.5).
