Georgia-Russia trade turnover rises by 50%

Georgia-Russia trade turnover rises by 50%

The trade turnover between Georgia and Russia for 10 months of 2022 amounted to almost $2 bln, which is 50% more than the same period in 2021, according to the National Statistical Service of Georgia.

Russia ranked second among Georgia's largest trading partners. In January-October, its share in the volume of Georgia's foreign trade amounted to 12.8%. In January-October, Georgia exported more than 55,000 metric tons of natural wines (over $128 mln) to Russia, over 54,000 metric tons of ferroalloys worth over $105 mln, more than 3,800 cars (more than $55 mln), more than 9,100 metric tons of alcoholic beverages (around $47 mln), over 72,000 metric tons of mineral and fresh water (around $40 mln).

In turn, the import of Russian products to Georgia increased by 74% compared to the data for January-October 2021. Russia supplied over 503,000 metric tons of oil and oil products (over $495 mln) to the country, a 2.8-fold increase against last year. Russia also delivered over 145,000 metric tons of wheat or wheat-rye flour (for more than $54 mln) to Georgia, more than 91,000 metric tons of coke and semi-coke (about $50 mln), and more than 178,000 metric tons of petroleum gases and hydrocarbons (about $50 mln), as well as over 124 thousand metric tons of wheat and meslin (over $45 mln).

Turkey was first among Georgia’s trading partners in January-October 2022, the trade turnover with the country exceeded $2.2 bln, which is 36.6% more than in 2021. China followed in the third place, the trade turnover with this country surpassed $1.5 bln (annual growth of 24.7%).

Georgia's total foreign trade turnover for 10 months of this year exceeded $15 bln, which is 33.5% higher than in 2021. Exports reached over $4.5 bln (annual growth of 34%), imports - more than $10.6 bln (annual growth of 33.3%). The negative balance of foreign trade in January-October 2022 amounted to over $6.1 bln (40.3% of the total trade turnover).