In 11M2024, Georgia bought 1.43 million tons of petroleum products worth USD 1.2 billion from abroad, which was 13% more in value and 12% more in volume compared to the previous year.
In 2024, Georgia purchased 630 thousand tons of oil worth USD 471 million from Russia, which was an 8% decrease year-on-year. The reason for the decrease is likely the restriction on gasoline exports imposed by Russia itself, which was lifted in the summer months, but came into force again on September 1 and will be in effect until December 31, due to the gasoline shortage in Russia itself. Based on this, Georgian companies increased gasoline imports from Romania, Bulgaria and Turkey.
TOP-5 Countries By Fuel Exports To Georgia
1. Russia - USD 472; 629,544 tons, a decrease of -8% y-o-y
2. Bulgaria - USD 154; 180,473 tons, decrease of 104% y-o-y
3. Romania - USD 150; 185,021 tons, decrease of -1% y-o-y
4. Azerbaijan - USD 76; 95,951 tons, decrease of -9% y-o-y
5. Turkey - USD 70 67,992; 67,992 tons, growth of 83% y-o-y
According to Geostat, Georgia sold part of the purchased oil abroad this year. Namely, exports reached USD 77 million and 115 thousand tons. Exports increased by 26% in value and by 52% in volume. In the first 11 months of 2024, the largest amount of oil was exported from Georgia to the Netherlands, which volume amounted to 50 thousand tons worth USD 24 million. In the same period last year, no oil was exported to the Netherlands, therefore, this year's growth is mainly related to the export/re-export of crude oil to the Netherlands.
