Georgia’s economic ties with Russia showed mixed trends in 2026, with trade and tourism increasing while foreign direct investment (FDI) and remittances declined. According to official data, bilateral trade turnover rose by 16.3% year-on-year to $2.21 billion in January–September. During the same period, Russian imports into Georgia increased by 21.6% to $1.65 billion, while Georgian exports to Russia grew by 3.1% to $560.2 million, leaving Georgia with a trade deficit.
Russian imports were dominated by petroleum products, crude oil and natural gas, while Georgia’s main exports to Russia included wine, spirits, fruit, mineral water and other beverages. However, Russia banned imports from seven Georgian producers of wine, mineral water and carbonated drinks this year, marking the first such restrictions since the 2006 embargo on Georgian wine.
FDI from Russia fell by 33.5% year-on-year to $37.2 million in the first half of 2026, down from $56 million in the same period of 2025. Remittances from Russia also declined by 11.5% to $304.8 million in January–September. The drop was attributed largely to EU sanctions on the Zolotaya Korona money transfer system, which sharply reduced transfers from Russia from August and brought them to zero in September.
Meanwhile, tourism continued to grow. Georgia received 1.31 million visitors from Russia in the first nine months of 2026, up 4.9% year-on-year. Revenue from Russian visitors increased by 14.5% to $641.3 million, making Russia Georgia’s second-largest source of tourism revenue after the European Union.
