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Russia-Georgia trade gains 50% at $780 million

January 28, 2014, 13:54 UTC+3 TBILISI
Russia is now ranked as Georgia's 4th major trade partner
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TBILISI, January 28. /ITAR-TASS/. Foreign trade between Russia and Georgia was worth $779.7 million in 2013, a 12-month increase of 50.1%.

Georgia’s National Bureau of Statistics, Sakstati, ranks Russia as the country’s 4th major trade partner, making up 7.2% of its total revenue. Exports from Georgia to Russia grew more than fourfold last year to $190.5 million, 6.5% of its total exports.

Sakstati experts say this sharp increase resulted from renewed supplies of a range of products after a six-year break, made possible amid a certain thaw in the two countries’ relations. In May, Georgia resumed exporting mineral waters; wines and brandies in June; tea, bayleaf, dry fruit and a number of other agricultural produce in July; and citrus fruit in November.

Imports from Russia increased by a quarter to $589.4 million, representing 7.5% of the total.

From 2009 until the first six months of 2013, Russia hovered between 5th and 7th by trade turnover with Georgia but from last August, confidently ranked fourth among Georgia’s trade partners.

Turkey, Azerbaijan and Ukraine retain leadership with about $1.5 billion (14.2% of total foreign trade turnover), $1.3 billion (12.5%), and $795.1 million (7.4%) respectively.

Georgia’s foreign trade turnover last year totalled $10.8 billion. Adjusted to exclude "unorganized" market trading, the rise year-on-year is calculated at 5.5%.

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