Georgia has reported a significant increase in its imports of Russian liquefied natural gas (LNG) during the first five months of this year, based on data from the Union of Petroleum Importers of Georgia. According to the union, imports of Russian LNG grew by 29.5% year-on-year from January to May, totaling 18,400 tons. These imports from Russia accounted for 99.7% of Georgia’s total LNG imports for the year so far.
Furthermore, Georgia also experienced a 74% surge in imports of Russian oil bitumen during this period. Russia comprised 50.9% of the oil bitumen deliveries to Georgia, with other major suppliers including Iraq, Türkiye, and Azerbaijan.
In terms of petroleum products, Russia saw a substantial increase in exports to Georgia, reaching $168 million in the first quarter of the year. This represents a staggering 275% rise compared to the same period the previous year. As a result, Russia now contributes to around two-thirds of Georgia’s overall fuel imports, which amount to $251.2 million.
Earlier reports revealed that the trade turnover between these neighboring countries in January and February 2023 surpassed $467 million, marking a significant 48% growth from the same period in the previous year.
Aside from energy imports, Georgia has also emerged as Russia’s leading wine supplier, surpassing Italy. Reports indicate that wine exports from Georgia skyrocketed by 63% from January to May. This impressive growth demonstrates Georgia’s increasing presence in the wine market and its attractiveness to Russian consumers.
Overall, Russia’s economic ties with Georgia have witnessed significant growth in various sectors. The energy trade between the two countries has seen a boost, with Georgia’s increased reliance on Russian LNG and oil bitumen. This has contributed to Russia’s dominance in Georgia’s fuel imports. Additionally, Georgia’s wine industry has thrived, enabling it to surpass Italy as Russia’s top wine supplier.
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