2023
Exports
$518MWorld Rnk 107 / 219
Flag Rnk 4 / 96
2023
PRODUCT COMPLEXITY IN Mineral fuels, mineral oils and products of their distillation
0.38Rnk 423 / 1025
2023
Imports
$1.76BWorld Rnk 111 / 226
Flag Rnk 2 / 96
2023
ECONOMIC COMPLEXITY of Georgia
0.13Rnk 55 / 132

About

Exports In 2023, Georgia exported $518M in Mineral fuels, mineral oils and products of their distillation, making it the 107th largest exporter of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 4th most exported product in Georgia. The main destination of Mineral fuels, mineral oils and products of their distillation exports from Georgia are: Turkey ($412M), Spain ($25.2M), Netherlands ($23.2M), Azerbaijan ($15.9M), and Greece ($9.37M).

The fastest growing export markets for Mineral fuels, mineral oils and products of their distillation of Georgia between 2022 and 2023 were Turkey ($43.9M), Spain ($25.2M), and Greece ($9.26M).

Imports In 2023, Georgia imported $1.76B in Mineral fuels, mineral oils and products of their distillation, becoming the 111th largest importer of Mineral fuels, mineral oils and products of their distillation in the world. At the same year, Mineral fuels, mineral oils and products of their distillation was the 2nd most imported product in Georgia. Georgia imports Mineral fuels, mineral oils and products of their distillation primarily from: Russia ($776M), Azerbaijan ($410M), Romania ($168M), Bulgaria ($97M), and Turkmenistan ($84.7M).

The fastest growing import markets in Mineral fuels, mineral oils and products of their distillation for Georgia between 2022 and 2023 were Belarus ($19.4M), Iraq ($8.04M), and Malta ($7.64M).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Mineral fuels, mineral oils and products of their distillation. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$518M
IMPORTS (2023)$1.76B
NET TRADE (2023)-$1.24B

In 2023, Georgia exported $518M in Mineral fuels, mineral oils and products of their distillation. The main destinations of Georgia exports on Mineral fuels, mineral oils and products of their distillation were Turkey ($412M), Spain ($25.2M), Netherlands ($23.2M), Azerbaijan ($15.9M), and Greece ($9.37M).

In 2023, Georgia imported $1.76B in Mineral fuels, mineral oils and products of their distillation, mainly from Russia ($776M), Azerbaijan ($410M), Romania ($168M), Bulgaria ($97M), and Turkmenistan ($84.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Mineral fuels, mineral oils and products of their distillation EXPORT MARKETS FOR Georgia WERE (2022 - 2023):
Turkey$43.9M (11.9%)
Spain$25.2M (3.69M%)
Greece$9.26M (8.56k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral fuels, mineral oils and products of their distillation BY Georgia WERE (2022 - 2023):
Tunisia-$77.5M (-100%)
Romania-$50.4M (-100%)
Belgium-$15.2M (-84.1%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Type
In 2023, Georgia's main exporting competitors in Mineral fuels, mineral oils and products of their distillation were:
In 2023, Georgia's main importing competitors in Mineral fuels, mineral oils and products of their distillation were:

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Trade Value of Mineral fuels, mineral oils and products of their distillation by Exporters

Potential Exports

Potential Exports

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TOP EXPORT POTENTIALBelgium+ $8.87M
TOP IMPORT POTENTIALTurkey+ $28.3M

Mineral fuels, mineral oils and products of their distillation’s highest export potential is Belgium. With an export gap of $8.87M.   Mineral fuels, mineral oils and products of their distillation’s highest import potential is Turkey with an import gap of $28.3M.

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