Georgia, Russia see drop in trade turnover in 5M2024

Trade turnover between Georgia and Russia from January through May 2024 dropped by 5.3 percent compared to the same period in 2023, totaling over $1 billion, Azernews reports.

According to Georgia's National Statistics Office, Russia's exports to the country decreased by nearly 2 percent. Russia's share in Georgia's foreign trade turnover for the first five months of 2024 was 11.9 percent.

Russia remains the largest grain supplier to Georgia. Statistics show that from January through May this year, 101.5 thousand tons of wheat and meslin were imported from Russia. Additionally, 369.7 thousand tons of natural and associated gases, 274.6 thousand tons of oil and oil products, 47.8 thousand tons of carbon steel rods without further processing, and 47.8 thousand tons of glass bottles, containers, and other receptacles were imported from Russia.

In 2023, the trade volume between the two countries was $2.4 billion, which is 3 percent less compared to 2022. During that year, Georgia's exports to Russia increased by 2.3 percent, while imports from Russia to Georgia decreased by 5 percent.