The International Chamber of Commerce in Georgia (ICC Georgia) published the Foreign Economic Dependence Index. According to the document, Georgia's dependence on Russia decreased from 22.5% to 16.6% (Decrease in imports, exports and money flow) in 2Q2023 compared to 1Q2023, but increased in M6 from 19.1% to 19.2% in 6M2023 compared to Year 2022.
The report reads, that Georgia's Economic Dependence Index decreased with EU from 22.5% to 20.5% (due to the increase of other countries, but in total money volumes the figures are about the same for both quarters); China- from 5.5% to 5.2%, USA - from 7.8% to 7.6% in Q2 Compared to Q1.
However, in the same period Georgia's Economic Dependence Index increased with Kazakhstan from 3% to 4% (increase in exports and money flow), Turkey - from 12.6% to 15.7% (Increase in imports, tourism and FDI) and United Kingdom - from 0% to 3% (Increase in FDI).
As for M6 2023 Compared to Year 2022, Economic Dependence decreased with China from 5.5% to 5.2%, while increased with EU from 21.3% to 21.4% and Turkey from 11.8% to 14.2%.
