Georgia increases fuel import from Russia sixfold

Finance Materials 12 July 2019 12:50 (UTC +04:00)

Baku, Azerbaijan, July 12

By Tamilla Mammadova - Trend:

Over the past five years, the trade turnover between Georgia and Russia has grown from $850 million to $1.4 billion, Trend reports with reference to the National Statistics Office of Georgia.

The number of tourists from Russia to Georgia has doubled. In 2014, the tourists from Russia made 650,000 visits to Georgia, and in 2018 - 1.4 million. As a result, Russian citizens have become the number one tourist destination in the country.

In addition, Georgia's imports of fuel from Russia increased by almost six times. In 2014, imports amounted to about 52,000 tons, and after five years - more than 290,000 tons.

The volume of direct investment from Russia to Georgia in 2014 amounted to $87.9 million, in 2016 this mark dropped sharply and reached the level of $35.9 million, but in 2018 this figure approached $60 million.

As for remittances from Russia to Georgia, they reached their maximum in 2014 - $70.8 million, in 2016 there was a decline in this indicator to $36.7 million, in 2018 this level approached $45.7 million.

($1 = 2,85 GEL on July 12)