2023
Exports
$109MWorld Rnk 107 / 214
Flag Rnk 13 / 991
2023
PRODUCT COMPLEXITY IN Refined Petroleum
-0.94Rnk 813 / 1025
2023
Imports
$1.17BWorld Rnk 102 / 226
Flag Rnk 2 / 1155
2023
ECONOMIC COMPLEXITY of Georgia
0.13Rnk 55 / 132

About

Exports In 2023, Georgia exported $109M in Refined Petroleum, making it the 107th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 13th most exported product in Georgia. The main destination of Refined Petroleum exports from Georgia are: Turkey ($38.7M), Spain ($25.2M), Azerbaijan ($10.9M), Greece ($9.37M), and Ukraine ($8.09M).

The fastest growing export markets for Refined Petroleum of Georgia between 2022 and 2023 were Spain ($25.2M), Greece ($9.26M), and United Arab Emirates ($4.47M).

Imports In 2023, Georgia imported $1.17B in Refined Petroleum, becoming the 102nd largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Georgia. Georgia imports Refined Petroleum primarily from: Russia ($552M), Romania ($168M), Bulgaria ($96.9M), Azerbaijan ($95.4M), and Turkmenistan ($84.5M).

The fastest growing import markets in Refined Petroleum for Georgia between 2022 and 2023 were Azerbaijan ($44M), Belarus ($19.4M), and Malta ($7.64M).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
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 Refined Petroleum. 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)$109M
IMPORTS (2023)$1.17B
NET TRADE (2023)-$1.06B

In 2023, Georgia exported $109M in Refined Petroleum. The main destinations of Georgia exports on Refined Petroleum were Turkey ($38.7M), Spain ($25.2M), Azerbaijan ($10.9M), Greece ($9.37M), and Ukraine ($8.09M).

In 2023, Georgia imported $1.17B in Refined Petroleum, mainly from Russia ($552M), Romania ($168M), Bulgaria ($96.9M), Azerbaijan ($95.4M), and Turkmenistan ($84.5M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Georgia WERE (2022 - 2023):
Spain$25.2M (3.69M%)
Greece$9.26M (8.56k%)
United Arab Emirates$4.47M (4.42k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Georgia WERE (2022 - 2023):
Belgium-$16.4M (-100%)
Romania-$10.4M (-100%)
Italy-$6.17M (-100%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Georgia's main exporting competitors in Refined Petroleum were:
In 2023, Georgia's main importing competitors in Refined Petroleum were:

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALTurkey+ $23.9M
TOP IMPORT POTENTIALTurkey+ $27.7M

Refined Petroleum’s highest export potential is Turkey. With an export gap of $23.9M.   Refined Petroleum’s highest import potential is Turkey with an import gap of $27.7M.

See methodology.

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