Revenues of wine export from Georgia to increase by 10%
Baku, Azerbaijan, July 31
By Tamilla Mammadova – Trend:
The revenues of wine and alcohol beverages exports from Georgia will increase by about 10 percent, says the research of Galt & Taggart, the Organization of investment research in Georgia, Trend reports.
These expectations are associated with a record grape harvest in 2018 in Georgia and the growth of export trends.
The research notes that the export of Georgian wine to non-traditional markets doubled in 2013–2018, which is a pretty good achievement because of the low awareness of Georgian wines in these markets.
Taking into account that the consumption of wine in Asia is quite high, the income from the export of Georgian wine to these markets will increase to $120 million over the next five years, and it will exceed the current income from the export of wine to Russia. Therefore, it is necessary to focus on brand promotion and expansion of distribution networks.
“The wine business was one of the most profitable sectors in Georgia in 2013-18. The sector’s revenue almost doubled and amounted to 870 million lari. In 2018 Georgia received $305 million from wine exports. According to our estimates, 2019 will be a profitable year for this sector, and revenue will grow by about 10 percent,” said Otar Sharikadze, managing director of Galt & Taggart.
(1 USD = 2.94 GEL on July 31)