Russia-Georgia trade turnover declines

Maria Novoselova / Vestnik Kavkaza

Trade turnover between Russia and Georgia amounted to almost $2.5 bln in 2023, which is down by 3% year-on-year, according to data released by the National Statistics Service of Georgia.

With Russia being Georgia’s second-biggest trade partner, its share in the republic’s total external trade volume equaled 11.2% in the reporting period. Georgian exports to Russia amounted to around $657 mln in the period (up by 2.2% in annual terms), while imports roughly totaled $1.8 bln (down by 5%).

Turkey was Georgia’s biggest trade partner in 2023, with mutual trade turnover reaching almost $3 bln, up by 6% year-on-year, while the U.S. came in third with mutual trade turnover exceeding $2 bln, up by 60% year-on-year.

Georgia's total foreign trade turnover last year amounted to more than $21.5 billion (an increase of 12.5%). Exports amounted to more than $6 billion (an increase of 9.1%), and imports exceeded $15 billion (an increase of 14%).

© Photo :Maria Novoselova / Vestnik Kavkaza