Georgia’s Foreign Trade Up 12.5% in 2023

On January 22, the National Statistics Office of Georgia (Geostat) published preliminary data indicating that in 2023, Georgia’s foreign trade increased by 12.5% compared to 2022, totaling $21.53 billion in value.

In 2023, exports from Georgia increased by 9.1% to $6.09 billion, while imports rose by 14.0% to $15.44 billion. As a result, the country’s negative trade balance was $9.35 billion, representing 43.4% of its foreign trade turnover.

In the same period, Turkey was Georgia’s largest trade partner with $2.98 billion in trade volume, followed by Russia with $2.40 billion, United States with $2.05 billion, China with $1.64 billion, and Azerbaijan with $1.52 billion.

During the reporting period, Azerbaijan was Georgia’s largest trade partner in exports with $862 million, followed by Armenia with $787 million, Kazakhstan with $703 million, Kyrgyzstan with $696 million, and Russia with $657 million.

In terms of imports, Georgia’s largest trading partners were Turkey with $2.6 billion, the United States with $1.95 billion, Russia with $1.74 billion, China with $1.33 billion, and Germany with $948 million.

In 2023, the largest commodity groups in exports were led by motor cars – $2.13 billion. Then come: copper ores and concentrates – $479 million US dollars; wine of fresh grapes – $259 million; spirituous beverages – $196 million; ferro-alloys – $181 million; nitrogenous fertilizers – $158 million; natural or artificial mineral and aerated waters, not containing added sugar – $132 million; medicaments put up in measured doses – $127 million; mineral and aerated waters, containing added sugar – $109 million; electrical energy – $95 million; other commodities – $2.23 billion.

As for imports, the major commodity groups here are motor cars – $3.16 billion; petroleum and petroleum oils – $1.17 billion; medicaments put up in measured doses – $543 million; petroleum gases and other gaseous hydrocarbons – $445 million; telephone sets and apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks) – $375 million; copper ores and concentrates – $237 million; motor vehicles for the transport of goods – $172 million; automatic data processing machines and units thereof – $159 million; cigars, cheroots, cigarillos, and cigarettes – $158 million; bars and rods of iron or nonalloy steel – $136 million; other commodities – $8.88 billion.

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