Georgia (GEO) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Georgia-Russia Trade: In 2023, Georgia exported $657M to Russia. The main products that Georgia exported to Russia were Wine ($168M), Hard Liquor ($67.4M), and Cars ($67.1M). Over the past 5 years the exports of Georgia to Russia have increased at an annualized rate of 8.48%, from $437M in 2018 to $657M in 2023.

In 2023, Georgia did not export any services to Russia.

Russia-Georgia Trade: In 2023, Russia exported $1.74B to Georgia. The main products that Russia exported to Georgia were Refined Petroleum ($552M), Petroleum Gas ($131M), and Raw Iron Bars ($57.9M). Over the past 5 years the exports of Russia to Georgia have increased at an annualized rate of 10.5%, from $1.06B in 2018 to $1.74B in 2023.

In 2020, Russia exported services to Georgia worth $48.5M, with Transportation ($11.2M), Travel ($9.84M), and Other business services ($8.5M) being the largest in terms of value.

Comparison: In 2023, Georgia ranked 55 in the Economic Complexity Index (ECI 0.13), and 123 in total exports ($6.39B). That same year, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Georgia exported $657M to Russia. The main products exported from Georgia to Russia were Wine ($168M), Hard Liquor ($67.4M), and Cars ($67.1M). During the last 5 years the exports of Georgia to Russia have increased at an annualized rate of 8.48%, from $437M in 2018 to $657M in 2023.

In 2018, Russia exported $1.74B to Georgia. The main products exported from Russia to Georgia were Refined Petroleum ($552M), Petroleum Gas ($131M), and Raw Iron Bars ($57.9M). During the last 5 years the exports of Russia to Georgia have increased at an annualized rate of 10.5%, from $1.06B in 2023 to $1.74B in 2018.

Exports from Georgia () to Russia () (2023)

Exports from Russia () to Georgia () (2023)

Latest Data

Trade between Georgia () and Russia ()

Georgia Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Georgia
Top DestinationAzerbaijan$828M

Russia
Top DestinationChina$129B

This map shows whether countries import more from Georgia or Russia. Each country is colored based on the difference in imports they receive from Georgia and Russia or the difference in the growth in imports.

In 2023, countries that imported more from Georgia than Russia included Ukraine ($105M), Iraq ($70.5M), and Belarus ($37.8M).

In 2023, countries that imported more from Russia than Georgia included China ($129B), India ($66.1B), and Turkey ($31B).

Difference in imports from Russia () and Georgia () (2023)

Comparative Advantage Georgia - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Georgia and Russia by product, considering products traded by both, Georgia and Russia.

During 2023, Georgia had a large net trade with Russia in the exports of Foodstuffs ($376M), Vegetable Products ($110M), and Transportation ($70.7M).

During 2018, Russia had a large net trade with Georgia in the exports of Mineral Products ($777M), Foodstuffs ($203M), and Metals ($152M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Georgia Russia+$4.65kFerroalloys

Top Product Potential Russia Georgia+$9.2kRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

Rus Year

In 2020, Russia exported services to Georgia worth $48.5M, with Transportation ($11.2M), Travel ($9.84M), and Other business services ($8.5M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Georgia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Georgia and Russia. This means that a dot/product with the flag of Georgia indicates it has a comparative advantage over Russia. Similarly, a dot/product with the flag of Russia indicates it has a comparative advantage over Georgia.

About

Historical Data

Bilateral Trade by Products

Exports from Georgia () to Russia () (2023)

Exports from Russia () to Georgia () (2023)

Latest Data

Trade between Georgia () and Russia ()

Georgia Exports

Russia Exports

Market Competitiveness

Difference in imports from Russia () and Georgia () (2023)

Comparative Advantage Georgia - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Russia () to Georgia () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Georgia () and Russia () (2023)

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